Investments (Tables)

3 Months Ended

Apr. 01, 2017

Investments, Debt and Equity Securities [Abstract]

Available For Sale Securities

Following is a summary of AFS securities as of April 1, 2017 and December 31, 2016:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(Amounts are in thousands)
April 1, 2017
Tax exempt bonds	$	2,919,378		4,964		9,748	2,914,594
Taxable bonds	2,616,734			1,530		28,113	2,590,151
Restricted investments	164,548			—		—	164,548
Equity securities	1,279,526			114,410		3,409	1,390,527
	$	6,980,186		120,904		41,270	7,059,820
December 31, 2016
Tax exempt bonds	$	3,036,060		2,211		24,649	3,013,622
Taxable bonds	2,469,192			1,359		33,903	2,436,648
Restricted investments	164,548			—		463	164,085
Equity securities	1,021,340			110,879		7,956	1,124,263
	$	6,691,140		114,449		66,971	6,738,618

Amortized Cost and Fair Value of Available For Sale Securities by Expected Maturity

The amortized cost and fair value of AFS securities by expected maturity as of April 1, 2017 and December 31, 2016 are as follows:

	April 1, 2017			December 31, 2016
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
	(Amounts are in thousands)
Due in one year or less	$	1,597,922	1,597,903	1,592,144	1,591,740
Due after one year through five years	3,133,550		3,117,869	3,218,371	3,187,739
Due after five years through ten years	792,266		776,095	680,641	656,162
Due after ten years	12,374		12,878	14,096	14,629
	5,536,112		5,504,745	5,505,252	5,450,270
Restricted investments	164,548		164,548	164,548	164,085
Equity securities	1,279,526		1,390,527	1,021,340	1,124,263
	$	6,980,186	7,059,820	6,691,140	6,738,618

Temporarily Impaired Available For Sale Securities by Time Period Impaired

Following is a summary of temporarily impaired AFS securities by the time period impaired as of April 1, 2017 and December 31, 2016:

	Less Than 12 Months				12 Months or Longer			Total
	Fair Value		Unrealized Losses		Fair Value	Unrealized Losses		Fair Value	Unrealized Losses
	(Amounts are in thousands)
April 1, 2017
Tax exempt bonds	$	1,304,761		8,696	23,986		1,052	1,328,747		9,748
Taxable bonds	2,041,367			27,645	51,806		468	2,093,173		28,113
Equity securities	163,598			1,613	4,054		1,796	167,652		3,409
	$	3,509,726		37,954	79,846		3,316	3,589,572		41,270
December 31, 2016
Tax exempt bonds	$	2,360,143		24,416	6,099		233	2,366,242		24,649
Taxable bonds	1,921,367			33,354	51,769		549	1,973,136		33,903
Restricted investments	164,085			463	—		—	164,085		463
Equity securities	61,625			3,924	38,141		4,032	99,766		7,956
	$	4,507,220		62,157	96,009		4,814	4,603,229		66,971