Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Debt Securities and Other Investments, Included on Condensed Consolidated Balance Sheet and Recorded at Fair Value

Debt Securities and Other Investments

The following debt securities and other investments were included on the Condensed Consolidated Balance Sheets and recorded at fair value:

	As of March 31, 2023
	Amortized		Gross Unrealized					Fair
(In thousands)	Cost		Gains		Losses			Value
Corporate bonds	$	2,218	$	4	$	(63	)	$	2,159
Municipal fixed-rate bonds		185		—		(4	)		181
Asset-backed bonds		734		1		(20	)		715
Mortgage/Agency-backed bonds		1,699		1		(82	)		1,618
U.S. government bonds		4,299		5		(151	)		4,153
Foreign government bonds		406		—		(19	)		387
Available-for-sale debt securities held at fair value	$	9,541	$	11	$	(339	)	$	9,213

	As of December 31, 2022
	Amortized		Gross Unrealized					Fair
(In thousands)	Cost		Gains		Losses			Value
Corporate bonds	$	2,538	$	5	$	(81	)	$	2,462
Municipal fixed-rate bonds		185		—		(5	)		180
Asset-backed bonds		818		1		(24	)		795
Mortgage/Agency-backed bonds		1,853		—		(105	)		1,748
U.S. government bonds		3,870		3		(188	)		3,685
Foreign government bonds		407		—		(24	)		383
Available-for-sale debt securities held at fair value	$	9,671	$	9	$	(427	)	$	9,253

Contractual Maturities of Debt Securities and Other Investments

The contractual maturities related to debt securities and other investments were as follows:

	As of March 31, 2023
(In thousands)	Corporate bonds		Municipal fixed-rate bonds		Asset- backed bonds		Mortgage/ Agency- backed bonds		U.S. government bonds		Foreign government bonds
Less than one year	$	369	$	181	$	—	$	—	$	508	$	—
One to two years		966		—		169		166		3,174		387
Two to three years		824		—		49		600		348		—
Three to five years		—		—		337		242		123		—
Five to ten years		—		—		—		238		—		—
More than ten years		—		—		160		372		—		—
Total	$	2,159	$	181	$	715	$	1,618	$	4,153	$	387

Gross Realized Gains and Losses on Sale of Debt Securities

The following table presents the gross realized gains and losses related to its debt securities:

	Three Months Ended
	March 31,
(In thousands)	2023			2022
Gross realized gain on debt securities	$	4		$	12
Gross realized loss on debt securities		(11	)		(40	)
Total (loss) gain recognized, net	$	(7	)	$	(28	)

Realized and Unrealized Gains and Losses related to Marketable Equity Securities

Realized and unrealized gains and losses related to marketable equity securities were as follows:

	Three Months Ended
	March 31,
(In thousands)	2023		2022
Realized (loss) gain on equity securities sold	$	13	$	(25	)
Unrealized (loss) gain on equity securities held		1,246		(3,362	)
Total (loss) gain recognized, net	$	1,259	$	(3,387	)

Cash Equivalents and Investments held at Fair Value

The Company’s cash equivalents and investments held at fair value are categorized into this hierarchy as follows:

			Fair Value Measurements as of March 31, 2023 Using
(In thousands)	Fair Value		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
US government securities	$	175	$	175	$	—	$	—
Money market funds		243		243		—		—
Available-for-sale debt securities
Corporate bonds		2,159		—		2,159		—
Municipal fixed-rate bonds		181		—		181		—
Asset-backed bonds		715		—		715		—
Mortgage/Agency-backed bonds		1,618		—		1,618		—
U.S. government bonds		4,153		4,153		—		—
Foreign government securities		387		—		387		—
Marketable equity securities
Marketable equity securities – various industries		821		821		—		—
Deferred compensation plan assets		24,013		24,013		—		—
Total	$	34,465	$	29,405	$	5,060	$	—

			Fair Value Measurements as of December 31, 2022 Using
(In thousands)	Fair Value		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	228	$	228	$	—	$	—
Available-for-sale debt securities
Corporate bonds		2,462		—		2,462		—
Municipal fixed-rate bonds		180		—		180		—
Asset-backed bonds		795		—		795		—
Mortgage/Agency-backed bonds		1,748		—		1,748		—
U.S. government bonds		3,685		3,685		—		—
Foreign government bonds		383		—		383		—
Marketable equity securities
Marketable equity securities – various industries		804		804		—		—
Deferred compensation plan assets		22,942		22,942		—		—
Total	$	33,227	$	27,659	$	5,568	$	—