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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Carried at Fair Value
As of March 31, 2021 and December 31, 2020, our assets and liabilities carried at fair value on a recurring basis were as follows:
Level 1Level 2Level 3Total Fair Value
March 31, 2021(In thousands)
Assets
Corporate bonds$ $10,017 $ $10,017 
Agency bond securities 219,036  219,036 
Agency mortgage-backed securities 732,772  732,772 
Municipal bonds 29,248  29,248 
Asset-backed securities 5,142  5,142 
Total assets$ $996,215 $ $996,215 
Liabilities
Contingent consideration$ $ $4,300 $4,300 
December 31, 2020
Assets
Corporate bonds$— $10,110 $— $10,110 
Agency bond securities— 234,157 — 234,157 
Agency mortgage-backed securities— 691,029 — 691,029 
Municipal bonds— 30,501 — 30,501 
Asset-backed securities— 5,172 — 5,172 
Total assets$— $970,969 $— $970,969 
Liabilities
Contingent consideration$— $— $5,300 $5,300 
Schedule of Changes in Contingent Consideration Payable
The following table presents changes in our contingent consideration payable for the three months ended March 31, 2021 and 2020, which is categorized in Level 3 of the fair value hierarchy:
Three Months Ended March 31,
20212020
(In thousands)
Balance, beginning of period$5,300 $9,300 
Payments of contingent consideration(1,000)(1,000)
Balance, end of period$4,300 $8,300