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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements
The following tables provide fair value measurement information for our marketable securities and deferred compensation fund investments as of June 30, 2017 and December 31, 2016:
 
As of June 30, 2017
 
 
 
 
 
Fair Value Measurement Using:
 
Carrying Amount
 
Total Fair Value
 
Quoted Prices in Active Markets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
(in thousands)
Financial Assets:
 
 
 
 
 
 
 
 
 
Marketable securities
 
 
 
 
 
 
 
 
 
Municipal bonds — available-for-sale
$
70,082

 
$
70,082

 
$
—

 
$
70,082

 
$
—

 
 
 
 
 
 
 
 
 
 
Deferred compensation fund
 
 
 
 
 
 
 
 
 
Money Market (1)
$
2,362

 
$
2,362

 
$
—

 
$
2,362

 
$
—

Balanced and Lifestyle
7,897

 
7,897

 
7,897

 
—

 
—

Large Cap Growth
6,852

 
6,852

 
6,852

 
—

 
—

Small Cap Growth
3,189

 
3,189

 
3,189

 
—

 
—

Fixed Income
3,009

 
3,009

 
3,009

 
—

 
—

International
1,379

 
1,379

 
1,379

 
—

 
—

Mid Cap Growth
1,638

 
1,638

 
1,638

 
—

 
—

Deferred compensation fund
$
26,326

 
$
26,326

 
$
23,964

 
$
2,362

 
$
—

 
As of December 31, 2016
 
 
 
 
 
Fair Value Measurement Using:
 
Carrying
Amount
 
Total Fair
Value
 
Quoted Prices in Active Markets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
(in thousands)
Financial Assets:
 
 
 
 
 
 
 
 
 
Marketable securities
 
 
 
 
 
 
 
 
 
Municipal bonds — available-for-sale
$
67,730

 
$
67,730

 
$
—

 
$
67,730

 
$
—

 
 
 
 
 
 
 
 
 
 
Deferred compensation fund
 
 
 
 
 
 
 
 
 
Money Market (1)
$
3,147

 
$
3,147

 
$
—

 
$
3,147

 
$
—

Balanced and Lifestyle
7,162

 
7,162

 
7,162

 
—

 
—

Large Cap Growth
5,583

 
5,583

 
5,583

 
—

 
—

Small Cap Growth
2,933

 
2,933

 
2,933

 
—

 
—

Fixed Income
2,752

 
2,752

 
2,752

 
—

 
—

International
1,132

 
1,132

 
1,132

 
—

 
—

Mid Cap Growth
1,410

 
1,410

 
1,410

 
—

 
—

Deferred compensation fund
$
24,119

 
$
24,119

 
$
20,972

 
$
3,147

 
$
—



(1) 
The fair value of the money market fund is based on the net asset value (“NAV”) of the shares held by the plan at the end of the period. The money market fund includes short-term United States dollar denominated money market instruments and the NAV is determined by the custodian of the fund. The money market fund can be redeemed at its NAV at the measurement date as there are no significant restrictions on the ability to sell this investment.
Marketable Debt Securities

Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Other-than-temporary Impairments
 
(in thousands)
June 30, 2017
 
 
 
 
 
 
 
 
 
Type of security:
 
 
 
 
 
 
 
 
 
Municipal bonds — available-for-sale
$
68,910

 
$
1,258

 
$
(86
)
 
$
70,082

 
$
—

Total debt securities
$
68,910

 
$
1,258

 
$
(86
)
 
$
70,082

 
$
—

 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
Type of security:
 
 
 
 
 
 
 
 
 
Municipal bonds — available-for-sale
$
68,220

 
$
178

 
$
(668
)
 
$
67,730

 
$
—

Total debt securities
$
68,220

 
$
178

 
$
(668
)
 
$
67,730

 
$
—
Contractual Maturities of Available for Sale Investments
The following table summarizes the contractual maturities of debt securities held at June 30, 2017 and December 31, 2016, which are classified as marketable securities in the Consolidated Balance Sheets:
 
 
Municipal Bonds — Available-for-Sale
Contractual maturity:
 
June 30, 2017
 
December 31, 2016
 
 
(in thousands)
Maturing in one year or less
 
$
960

 
$
973

Maturing in second year through fifth year
 
18,260

 
28,671

Maturing in sixth year through tenth year
 
22,980

 
21,651

Maturing after ten years
 
27,882

 
16,435

Total debt securities
 
$
70,082

 
$
67,730