Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the above three-tier fair value hierarchy:
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March 31, 2023 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(in thousands) |
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Equity securities, debt securities and cash equivalents: |
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U.S. government debt securities |
$ |
355,736 |
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$ |
— |
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|
$ |
355,736 |
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|
$ |
— |
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U.S. agency debt securities |
|
208,894 |
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|
— |
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|
208,894 |
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|
|
— |
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Corporate debt securities |
|
165,133 |
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— |
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|
165,133 |
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|
|
— |
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U.S. treasury bills |
|
67,883 |
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|
67,883 |
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|
|
— |
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|
|
— |
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Municipal bonds |
|
21,772 |
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— |
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21,772 |
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|
— |
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Preferred stock of privately held company |
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15,000 |
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— |
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— |
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|
15,000 |
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Redeemable preferred stock investment |
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12,982 |
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— |
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— |
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|
12,982 |
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Money market accounts |
|
11,902 |
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11,902 |
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— |
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— |
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Yankee debt securities |
|
672 |
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— |
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|
672 |
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|
|
— |
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Total equity securities, debt securities and cash equivalents |
$ |
859,974 |
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|
$ |
79,785 |
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$ |
752,207 |
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$ |
27,982 |
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December 31, 2022 |
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Total |
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|
Level 1 |
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Level 2 |
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|
Level 3 |
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(in thousands) |
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Equity securities, debt securities and cash equivalents: |
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U.S. government debt securities |
$ |
332,048 |
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|
$ |
— |
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|
$ |
332,048 |
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|
$ |
— |
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Corporate debt securities |
|
194,149 |
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|
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— |
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|
194,149 |
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|
|
— |
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U.S. agency debt securities |
|
156,688 |
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|
|
— |
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|
|
156,688 |
|
|
|
— |
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U.S. treasury bills |
|
69,798 |
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|
69,798 |
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— |
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— |
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Money market accounts |
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27,455 |
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|
27,455 |
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|
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— |
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— |
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Municipal bonds |
|
22,673 |
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— |
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|
22,673 |
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|
— |
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Preferred stock of privately held company |
|
15,000 |
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— |
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— |
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|
15,000 |
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Redeemable preferred stock investment |
|
12,385 |
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|
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— |
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|
|
— |
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|
|
12,385 |
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Yankee debt securities |
|
3,010 |
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|
|
— |
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|
3,010 |
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|
— |
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Total equity securities, debt securities and cash equivalents |
$ |
833,206 |
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|
$ |
97,253 |
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|
$ |
708,568 |
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$ |
27,385 |
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