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Investments (Tables)
6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
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

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

     Gross realized gain on debt securities

 

$

 

 

$

 

 

$

 

 

$

4

 

     Gross realized loss on debt securities

 

 

 

 

 

(27

)

 

 

 

 

 

(39

)

Total loss recognized, net

 

$

 

 

$

(27

)

 

$

 

 

$

(35

)

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

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

     Unrealized gain on equity securities held

 

$

4

 

 

$

1,288

 

 

$

127

 

 

$

2,535

 

     Realized gain on equity securities sold

 

 

868

 

 

 

1

 

 

 

2,998

 

 

 

14

 

Total gain recognized, net

 

$

872

 

 

$

1,289

 

 

$

3,125

 

 

$

2,549

 

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 June 30, 2024 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

 

$

5,433

 

 

$

5,433

 

 

$

 

 

$

 

Marketable equity securities

 

 

 

 

 

 

 

 

 

 

 

 

Marketable equity securities – various industries

 

 

955

 

 

 

955

 

 

 

 

 

 

 

Deferred compensation plan assets

 

 

29,204

 

 

 

29,204

 

 

 

 

 

 

 

Total

 

$

35,592

 

 

$

35,592

 

 

$

 

 

$

 

 

 

 

 

 

 

Fair Value Measurements as of December 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

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

5,302

 

 

$

5,302

 

 

$

 

 

$

 

Marketable equity securities

 

 

 

 

 

 

 

 

 

 

 

 

Marketable equity securities – various industries

 

 

905

 

 

 

905

 

 

 

 

 

 

 

Deferred compensation plan assets

 

 

26,838

 

 

 

26,838

 

 

 

 

 

 

 

Total

 

$

33,045

 

 

$

33,045

 

 

$

 

 

$