Investments (Tables)

6 Months Ended

Jun. 30, 2018

Investments Debt And Equity Securities [Abstract]

Debt Securities and Other Investments, Recorded at Either Fair Value or Cost

Debt Securities and Other Investments

At June 30, 2018, we held the following debt securities and other investments, recorded at either fair value or cost:

	Amortized		Gross Unrealized					Carrying
(In thousands)	Cost		Gains		Losses			Value
Corporate bonds	$	35,896	$	27	$	(250	)	$	35,673
Municipal fixed-rate bonds		2,259		—		(38	)		2,221
Asset-backed bonds		10,355		1		(37	)		10,319
Mortgage/Agency-backed bonds		7,292		—		(85	)		7,207
U.S. government bonds		8,953		—		(104	)		8,849
Foreign government bonds		1,036		2		—			1,038
Available-for-sale debt securities held at fair value	$	65,791	$	30	$	(514	)	$	65,307
Restricted investment held at cost									26,700
Other investments held at cost									520
Total carrying value of available-for-sale investments								$	92,527

At December 31, 2017, we held the following debt securities and other investments, recorded at either fair value or cost:

	Amortized		Gross Unrealized					Carrying
(In thousands)	Cost		Gains		Losses			Value
Corporate bonds	$	32,654	$	44	$	(155	)	$	32,543
Municipal fixed-rate bonds		2,902		2		(22	)		2,882
Asset-backed bonds		6,545		1		(20	)		6,526
Mortgage/Agency-backed bonds		5,554		1		(46	)		5,509
U.S. government bonds		14,477		—		(174	)		14,303
Foreign government bonds		725		5		—			730
Available-for-sale debt securities held at fair value	$	62,857	$	53	$	(417	)	$	62,493
Restricted investment held at cost									27,800
Other investments held at cost									547
Total carrying value of available-for-sale investments								$	90,840

Contractual Maturities of Debt Securities

As of June 30, 2018, our debt securities had the following contractual maturities:

(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	$	1,500	$	490	$	4,079	$	—	$	—	$	—
One to two years		16,694		603		2,270		—		1,519		729
Two to three years		12,264		1,128		556		—		3,845		309
Three to five years		5,215		—		1,939		1,970		3,485		—
Five to ten years		—		—		—		588		—		—
More than ten years		—		—		1,475		4,649		—		—
Total	$	35,673	$	2,221	$	10,319	$	7,207	$	8,849	$	1,038

Gross Realized Gains and Losses on Sale of Debt Securities

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In thousands)	2018			2017			2018			2017
Gross realized gains	$	25		$	33		$	25		$	57
Gross realized losses	$	(241	)	$	(113	)	$	(315	)	$	(152	)

Realized and Unrealized Gains and Losses for Marketable Equity Securities

Realized and unrealized gains and losses for our marketable equity securities for the three and six months ended June 30, 2018 were as follows:

	Three Months Ended			Six Months Ended
	June 30,			June 30,
(In thousands)	2018			2018
Realized gains (losses) on equity securities sold	$	(52	)	$	347
Unrealized gains (losses) on equity securities held		1,258			836
Total gain (loss) recognized, net	$	1,206		$	1,183

Fair Value Measurements of Cash Equivalents and Investments

We have categorized our cash equivalents and our investments held at fair value into a three-level fair value hierarchy based on the priority of the inputs to the valuation technique for the cash equivalents and investments as follows:  Level 1 - Values based on unadjusted quoted prices for identical assets or liabilities in an active market; Level 2 - Values based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly; Level 3 - Values based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs include information supplied by investees.

	Fair Value Measurements at June 30, 2018 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	$	2,008	$	2,008	$	—	$	—
Foreign government securities		350		—		350		—
Cash equivalents		2,358		2,008		350		—
Available-for-sale debt securities
Corporate bonds		35,673		—		35,673		—
Municipal fixed-rate bonds		2,221		—		2,221		—
Asset-backed bonds		10,319		—		10,319		—
Mortgage/Agency-backed bonds		7,207		—		7,207		—
U.S. government bonds		8,849		8,849		—		—
Foreign government bonds		1,038		—		1,038		—
Marketable equity securities
Marketable equity securities – various industries		37,600		37,600		—		—
Deferred compensation plan assets		20,379		20,379		—		—
Available-for-sale securities		123,286		66,828		56,458		—
Total	$	125,644	$	68,836	$	56,808	$	—

	Fair Value Measurements at December 31, 2017 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	$	5,851	$	5,851	$	—	$	—
Commercial paper		3,999		—		3,999		—
Cash equivalents		9,850		5,851		3,999		—
Available-for-sale debt securities
Corporate bonds		32,543		—		32,543		—
Municipal fixed-rate bonds		2,882		—		2,882		—
Asset-backed bonds		6,526		—		6,526		—
Mortgage/Agency-backed bonds		5,509		—		5,509		—
U.S. government bonds		14,303		14,303		—		—
Foreign government bonds		730		—		730		—
Marketable equity securities
Marketable equity securities – various industries		35,662		35,662		—		—
Deferred compensation plan assets		19,883		19,883		—		—
Available-for-sale securities		118,038		69,848		48,190		—
Total	$	127,888	$	75,699	$	52,189	$	—