Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Assets And Liabilities Measured On Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands):

	Quoted Prices
	in Active
	Markets for		Significant
	Identical		Other		Significant
	Assets		Observable		Unobservable		Fair Value at
	and Liabilities		Inputs		Inputs		June 30,
	(Level 1)		(Level 2)		(Level 3)		2021
Assets:
Cash equivalents, primarily money market funds (1)	$	46					$	46
Restricted cash, primarily money market funds (1)		9,095						9,095
Investments, mutual funds held in a grantor trust (1) (2)		47,310						47,310
Total	$	56,451	$	—	$	—	$	56,451
Liabilities:
Deferred compensation plan obligations (2)	$	47,310					$	47,310
Total	$	47,310	$	—	$	—	$	47,310

(1) For the three and six months ended June 30, 2021, a net gain of $2.8 million and $3.9 million was included in Interest and Other (Expense) Income, net, of which $2.5 million and $3.6 million represented an unrealized gain, respectively.

(2) See Note 11 for additional information.

	Quoted Prices
	in Active
	Markets for		Significant
	Identical		Other		Significant
	Assets		Observable		Unobservable		Fair Value at
	and Liabilities		Inputs		Inputs		December 31,
	(Level 1)		(Level 2)		(Level 3)		2020
Assets:
Cash equivalents, primarily money market funds (1)	$	155					$	155
Restricted cash, primarily money market funds (1)		10,144						10,144
Investments, mutual funds held in a grantor trust (1)		43,412						43,412
Total	$	53,711	$	—	$	—	$	53,711
Liabilities:
Deferred compensation plan obligations	$	43,412					$	43,412
Total	$	43,412	$	—	$	—	$	43,412

(1) For the year ended December 31, 2020, a net gain of $5.1 million was included in Interest and Other Income, net, of which $3.7 million represented an unrealized gain. Included in these amounts for the three and six months ended June 30, 2020 was a net gain of $5.1 million and a net loss of $(.9) million, respectively, of which $4.4 million and $(1.9) million represented an unrealized gain (loss), respectively.

Assets Measured on Nonrecurring Basis

	Quoted Prices in
	Active Markets for		Significant
	Identical		Other		Significant
	Assets		Observable		Unobservable
	and Liabilities		Inputs		Inputs				Total Gains
	(Level 1)		(Level 2)		(Level 3)		Fair Value		(Losses) (1)
Property (2)			$	47,746	$	—	$	47,746	$	(12,686)
Total	$	—	$	47,746	$	—	$	47,746	$	(12,686)

(1) Total gains (losses) presented in this table relate to assets that were held by us at December 31, 2020.

(2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount $60.4 million was written down to a fair value of $47.7 million, resulting in a loss of $12.7 million, which was included in earnings for the fourth quarter of 2020. Management’s estimate of fair value of these properties were determined using bona fide purchase offers for the Level 2 inputs.

Schedule Of Fair Value Disclosures

Schedule of our fair value disclosures is as follows (in thousands):

	June 30, 2021					December 31, 2020
			Fair Value					Fair Value
			Using	Fair Value				Using	Fair Value
			Significant	Using				Significant	Using
			Other	Significant				Other	Significant
			Observable	Unobservable				Observable	Unobservable
	Carrying		Inputs	Inputs		Carrying		Inputs	Inputs
	Value		(Level 2)	(Level 3)		Value		(Level 2)	(Level 3)
Other Assets:
Tax increment revenue bonds	$	14,758		$	19,000	$	14,762		$	19,000
Debt:
Fixed-rate debt		1,782,960			1,889,306		1,798,419			1,905,306
Variable-rate debt		4,002			4,002		40,000			40,000