Investments and other assets

12 Months Ended

Dec. 31, 2020

Investments, All Other Investments [Abstract]

Our investments and other assets consisted of the following as of December 31, 2020 and 2019 (in thousands):


	Dec. 31,
	2020		2019
Cash value life insurance	$	52,883	$	52,462
Equity method investments	32,067		27,650
Other equity investments	20,271		32,383
Deferred debt issuance costs	9,378		10,921
Other long-term assets	21,620		21,853
Total	$	136,219	$	145,269

Cash value life insurance: We are the beneficiary of life insurance policies on the lives of certain employees/retirees, which are recorded at their cash surrender value as determined by the insurance carrier. These policies are utilized as a partial funding source for deferred compensation and other non-qualified employee retirement plans. Gains and losses on these investments are included in “Other non-operating items, net” within our Consolidated Statements of Income and were not material for all periods presented.

Other equity investments: Represent investments in non-public businesses that do not have readily determinable pricing, and for which we do not have control or do not exert significant influence. These investments are recorded at cost less impairments, if any, plus or minus changes in observable prices for those investments. In 2020, we recorded a $9.2 million impairment charge due to the decline in the fair value of one of our investees. In 2019, we recognized gain of $5.9 million, based on observable price changes for certain equity investments without readily determinable fair value. The 2020 impairment charge and 2019 gain were recorded within “Other non-operating items, net” in the Consolidated Statements of Income.

Deferred debt issuance costs: These costs consist of amounts paid to lenders related to our revolving credit facility. Debt issuance costs paid for our term debt and unsecured notes are accounted for as a reduction in the debt obligation.