| Carrying Amounts and Fair Values of Certain Assets |
The following table summarizes the carrying amounts and fair values of certain assets at December 31, 2023:
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At December 31, 2023 |
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Fair Value Estimated Using |
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Carrying |
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Level 1 |
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Level 2 |
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Level 3 |
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Amount |
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Inputs |
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Inputs |
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Inputs |
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Cash equivalents |
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$ |
50,732 |
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$ |
50,732 |
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$ |
— |
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$ |
— |
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Restricted cash equivalents |
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133,063 |
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133,063 |
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— |
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— |
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Investments in marketable securities |
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16,720 |
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16,720 |
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— |
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— |
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Advertising fund cash equivalents, restricted |
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69,199 |
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69,199 |
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— |
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— |
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Investment in DPC Dash |
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143,553 |
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143,553 |
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— |
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— |
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The following table summarizes the carrying amounts and fair values of certain assets at January 1, 2023:
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At January 1, 2023 |
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Fair Value Estimated Using |
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Carrying |
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Level 1 |
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Level 2 |
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Level 3 |
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Amount |
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Inputs |
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Inputs |
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Inputs |
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Cash equivalents |
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$ |
23,779 |
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$ |
23,779 |
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$ |
— |
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$ |
— |
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Restricted cash equivalents |
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117,212 |
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117,212 |
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— |
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— |
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Investments in marketable securities |
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13,395 |
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13,395 |
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— |
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— |
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Advertising fund cash equivalents, restricted |
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124,496 |
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124,496 |
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— |
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— |
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Investment in DPC Dash |
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125,840 |
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— |
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— |
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125,840 |
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| Schedule of Estimated Fair Value |
Management estimated the approximate fair values of the Notes as follows:
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December 31, 2023 |
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January 1, 2023 |
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Principal
Amount |
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Fair Value |
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Principal
Amount |
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Fair Value |
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2015 Ten-Year Notes |
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$ |
744,000 |
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$ |
727,632 |
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$ |
752,000 |
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$ |
717,408 |
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2017 Ten-Year Notes |
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942,500 |
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895,375 |
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952,500 |
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875,348 |
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2018 7.5-Year Notes |
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403,750 |
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392,041 |
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408,000 |
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385,968 |
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2018 9.25-Year Notes |
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380,000 |
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365,180 |
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384,000 |
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355,584 |
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2019 Ten-Year Notes |
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649,688 |
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591,865 |
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656,438 |
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564,536 |
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2021 7.5-Year Notes |
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828,750 |
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730,958 |
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837,250 |
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695,755 |
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2021 Ten-Year Notes |
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975,000 |
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830,700 |
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985,000 |
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792,925 |
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