Investments and other assets

6 Months Ended

Jun. 30, 2021

Investments, All Other Investments [Abstract]

Our investments and other assets consisted of the following as of June 30, 2021 and December 31, 2020 (in thousands):


	June 30, 2021		Dec. 31, 2020

Cash value life insurance	$	53,058	$	52,883
Equity method investments	27,947		32,067
Other equity investments	16,939		20,271
Deferred debt issuance costs	7,607		9,378
Other long-term assets	26,166		21,620
Total	$	131,717	$	136,219

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 Statement of Income and were not material for all periods presented.

Other equity investments: Represents 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 the first quarter of 2021, we recorded a $1.9 million impairment charge, in “Other non-operating items, net” within our Consolidated Statement of Income, due to the decline in the fair value of one of our investments. No gains or losses were recorded on these investments in the first six months of 2020.

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.