Notes to Consolidated Financial Statements June 30, 2024 and 2023 The following tables present the fair value measurement for those assets and liabilities measured at fair value on a recurring basis as of June 30, 2023, grouped by fair value hierarchy (in thousands): 2023 Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 13,307 $ 13,307 $ - $ - Mutual funds 16,526 16,526 - - Subtotal 29,833 29,833 - - Current investments: Mutual funds 61 61 - - Equity securities 39 39 - - Corporate obligations 195,245 - 195,245 - Government-related obligations 184,338 - 184,338 - Subtotal 379,683 100 379,583 - Designated and restricted investments: Mutual funds 119,860 119,860 - - Equity securities 55 55 - - Commingled funds1 35,040 - - - Private capital1 9,165 - - - Government-related obligations 1,268 - 1,268 - Subtotal 165,388 119,915 1,268 - Other investments: Mutual funds 118,711 118,711 - - Commingled funds¹ 27,770 - - - Corporate obligations 74,315 - 74,315 - Government-related obligations 72,750 - 72,750 - Subtotal 293,546 118,711 147,065 - Scholarship funds held in trust: Mutual funds 87 87 - - Money market funds 10 10 - - Equity securities 2,647 980 1,667 - Corporate obligations 799 - 799 - Government-related obligations 50 - 50 - Subtotal 3,593 1,077 2,516 - Contributions receivable from remainder trusts 225 - - 225 Total $ 872,268 $ 269,636 $ 530,432 $ 225 1 In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Financial Position. During the years ended June 30, 2024 and 2023, there were no transfers between Level 2 and Level 3 investments. 29
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