v3.26.1
Fair value measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Available-for-Sale Securities Details of available-for-sale securities were as follows:
June 30, 2026CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
Mortgage-backed securities$8,638 $$261 $8,378 
U.S. Treasury securities3,767 33 3,795 
Total$12,405 $34 $266 $12,173 
June 30, 2025CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
Mortgage-backed securities$8,403 $24 $260 $8,167 
U.S. Treasury securities3,416 53 3,467 
Total$11,819 $77 $262 $11,634 
December 31, 2025CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
Mortgage-backed securities$8,539 $28 $204 $8,363 
U.S. Treasury securities3,992 33 — 4,025 
Total$12,531 $61 $204 $12,388 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The Company's assets measured at fair value on a recurring basis were as follows:
Fair Value Measurements at June 30, 2026, Using
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at June 30, 2026
(In thousands)
Assets:
Money market funds$— $9,191 $— $9,191 
Insurance contracts*— 70,381 — 70,381 
Available-for-sale securities:
Mortgage-backed securities— 8,378 — 8,378 
U.S. Treasury securities— 3,795 — 3,795 
Total assets measured at fair value$— $91,745 $— $91,745 
*The insurance contracts invest approximately 52 percent in fixed-income investments, 20 percent in common stock of large-cap companies, 11 percent in target date investments, 8 percent in common stock of mid-cap companies, 4 percent in common stock of small-cap companies, 3 percent in cash equivalents, 1 percent in international investments, and 1 percent in real estate.
Fair Value Measurements at June 30, 2025, Using
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at June 30, 2025
(In thousands)
Assets:
Money market funds$— $8,965 $— $8,965 
Insurance contracts*— 64,141 — 64,141 
Available-for-sale securities:
Mortgage-backed securities— 8,167 — 8,167 
U.S. Treasury securities— 3,467 — 3,467 
Total assets measured at fair value$— $84,740 $— $84,740 
*The insurance contracts invest approximately 56 percent in fixed-income investments, 18 percent in common stock of large-cap companies, 10 percent in target date investments, 7 percent in common stock of mid-cap companies, 4 percent in common stock of small-cap companies, 4 percent in cash equivalents, and 1 percent in international investments.
Fair Value Measurements at December 31, 2025, Using
Quoted Prices in
Active Markets
for Identical
Assets
 (Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
 (Level 3)
Balance at December 31, 2025
(In thousands)
Assets:
Money market funds$— $9,839 $— $9,839 
Insurance contracts*— 67,409 — 67,409 
Available-for-sale securities:
Mortgage-backed securities— 8,363 — 8,363 
U.S. Treasury securities— 4,025 — 4,025 
Total assets measured at fair value$— $89,636 $— $89,636 
*The insurance contracts invest approximately 57 percent in fixed-income investments, 18 percent in common stock of large-cap companies, 10 percent in target date investments, 7 percent in common stock of mid-cap companies, 4 percent in common stock of small-cap companies, 3 percent in cash equivalents, and 1 percent in international investments.
Schedule of Fair Value, by Balance Sheet Grouping The estimated fair value of the Company's Level 2 long-term debt was as follows:
June 30, 2026June 30, 2025December 31, 2025
(In thousands)
Carrying amount$2,577,157 $2,181,935 $2,676,855 
Fair value$2,338,445 $1,886,060 $2,385,170