Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

        The table below summarizes certain asset and liability fair values that are included within our accompanying Condensed Consolidated Balance Sheets, and their designations among the three fair value measurement categories (see Note 2(x)):

	March 31, 2020 Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets:
Government-related debt securities	$	35,411	$	15,026	$	—	$	50,437
Corporate debt securities	—		33,744		—		33,744
Money market funds	54,282		—		—		54,282
Equity securities (Note 7)	20,497		—		—		20,497
Bank CDs	—		8,120		—		8,120
Mutual funds	4,643		9		—		4,652
Key employee life insurance, cash surrender value - Note 3(e))	—		3,073		—		3,073		*
	$	114,833	$	59,972	$	—	$	174,805
Liabilities:
Deferred executive compensation liability (Note 8(f))	$	—	$	7,447	$	—	$	7,447	*
	$	—	$	7,447	$	—	$	7,447

	December 31, 2019 Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets:
Government-related debt securities	$	47,636	$	14,990	$	—	$	62,626
Corporate debt securities	—		58,248		—		58,248
Money market funds	54,199		—		—		54,199
Equity securities (Note 7)	31,047		—		—		31,047
Bank CDs	—		7,376		—		7,376
Mutual funds	5,158		11		—		5,169
Key employee life insurance, cash surrender value - Note 3(e))	—		3,547		—		3,547		*
	$	138,040	$	84,172	$	—	$	222,212
Liabilities:
Deferred executive compensation liability (Note 8(f))	$	—	$	8,746	$	—	$	8,746	*
	$	—	$	8,746	$	—	$	8,746

* The reported amount of “key employee life insurance, cash surrender value” is based on the stated cash surrender value of life insurance policies of named current and former employees at each period-end. The reported amount of “deferred executive compensation liability” is based on the period-end market value of mutual fund investments selected by employee participants of the deferred compensation plan.

We did not have any transfers between “Level 1” and “Level 2” (see Note 2(x)) measurement categories for any periods presented.

        Our carrying amounts of financial instruments such as cash equivalents, accounts receivable, prepaid expenses, accounts payable, and other accrued liabilities approximate their fair values due to their short-term nature of settlement.