XML 29 R19.htm IDEA: XBRL DOCUMENT v3.21.2
Note 10 - Fair Value Measurements
9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

10. FAIR VALUE MEASUREMENTS

 

The following tables summarize the fair value of the financial assets measured on a recurring basis (in thousands): 

 

  

September 30, 2021

 
  

Total

  

Level 1

  

Level 2

  

Level 3

 

Money market funds

 $13,469  $13,469  $-  $- 

Certificates of deposit

  139,361   -   139,361   - 

Corporate debt securities

  369,094   -   369,094   - 

U.S. treasuries and government agency bonds

  7,492   -   7,492   - 

Auction-rate securities backed by student-loan notes

  2,501   -   -   2,501 

Mutual funds and money market funds under deferred compensation plan

  29,919   29,919   -   - 

Total

 $561,836  $43,388  $515,947  $2,501 

 

  

December 31, 2020

 
  

Total

  

Level 1

  

Level 2

  

Level 3

 

Money market funds

 $34,335  $34,335  $-  $- 

Corporate debt securities

  249,671   -   249,671   - 

Commercial paper

  2,999   -   2,999   - 

U.S. treasuries and government agency bonds

  7,499   -   7,499   - 

Auction-rate securities backed by student-loan notes

  2,861   -   -   2,861 

Mutual funds and money market funds under deferred compensation plan

  26,924   26,924   -   - 

Total

 $324,289  $61,259  $260,169  $2,861 

 

 


Level 1 —includes instruments with quoted prices in active markets for identical assets.

Level 2 —includes instruments for which the valuations are based upon quoted market prices in active markets involving similar assets or inputs other than quoted prices that are observable for the assets. The market inputs used to value these instruments generally consist of market yields, recently executed transactions, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Pricing sources  may include industry standard data providers, security master files from large financial institutions, and other third-party sources used to determine a daily market value.

Level 3 —includes instruments for which the valuations are based on inputs that are unobservable and significant to the overall fair value measurement.

 

Redemptions and changes in the fair value of the auction-rate securities classified as Level 3 assets were not material for the three and nine months ended September 30, 2021.