| Schedule of Assets and liabilities at Fair Value on Recurring Basis |
Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands):
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September 30, 2025 |
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December 31, 2024 |
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Fair Value |
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Level 1 |
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Level 2 |
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Level 3 |
|
Fair Value |
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Level 1 |
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Level 2 |
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Level 3 |
| Assets: |
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| Assets held in rabbi trust |
$ |
13,266 |
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$ |
— |
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$ |
13,266 |
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$ |
— |
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$ |
12,191 |
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$ |
— |
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$ |
12,191 |
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$ |
— |
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| Convertible notes |
$ |
5,944 |
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$ |
— |
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$ |
— |
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$ |
5,944 |
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$ |
6,347 |
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$ |
— |
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$ |
— |
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$ |
6,347 |
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Cash equivalents (1):
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| Money market funds |
22,016 |
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22,016 |
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— |
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— |
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90,737 |
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90,737 |
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— |
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— |
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$ |
22,016 |
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$ |
22,016 |
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$ |
— |
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$ |
— |
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$ |
90,737 |
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$ |
90,737 |
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$ |
— |
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$ |
— |
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| Marketable debt securities, available-for-sale: |
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| Short-term investments: |
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| U.S. treasuries |
$ |
11,930 |
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$ |
11,930 |
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$ |
— |
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$ |
— |
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$ |
29,517 |
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$ |
29,517 |
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$ |
— |
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$ |
— |
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| Corporate debt |
113,977 |
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— |
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113,977 |
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— |
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160,150 |
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— |
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160,150 |
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— |
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| ABS and other |
3,513 |
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— |
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3,513 |
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— |
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— |
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— |
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— |
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— |
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$ |
129,420 |
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$ |
11,930 |
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$ |
117,490 |
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$ |
— |
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$ |
189,667 |
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$ |
29,517 |
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$ |
160,150 |
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$ |
— |
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| Long-term investments: |
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| U.S. treasuries |
$ |
29,197 |
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$ |
29,197 |
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$ |
— |
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$ |
— |
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$ |
773 |
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$ |
773 |
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$ |
— |
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$ |
— |
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| U.S. government sponsored entities |
2,811 |
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— |
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2,811 |
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— |
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|
929 |
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— |
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|
929 |
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— |
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| Corporate debt |
45,348 |
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— |
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45,348 |
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— |
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30,934 |
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— |
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30,934 |
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— |
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| ABS and other |
57,363 |
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— |
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57,363 |
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— |
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18,511 |
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— |
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18,511 |
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— |
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$ |
134,719 |
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$ |
29,197 |
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$ |
105,522 |
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$ |
— |
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$ |
51,147 |
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$ |
773 |
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$ |
50,374 |
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$ |
— |
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| Liabilities: |
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| Contingent consideration |
$ |
1,148 |
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$ |
— |
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$ |
— |
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$ |
1,148 |
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$ |
4,731 |
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$ |
— |
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$ |
— |
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$ |
4,731 |
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| Deferred consideration |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
411 |
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$ |
— |
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$ |
411 |
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$ |
— |
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| Deferred compensation liability |
$ |
9,586 |
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$ |
9,586 |
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$ |
— |
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$ |
— |
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$ |
8,304 |
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$ |
8,304 |
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$ |
— |
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$ |
— |
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| Schedule of Reconciliation of Contingent Consideration Measured at Fair Value on Recurring Basis |
A reconciliation of contingent consideration measured at fair value on a recurring basis consisted of the following (in thousands):
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Nine Months Ended
September 30, |
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2025 |
|
2024 |
| Beginning balance |
$ |
4,731 |
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$ |
5,482 |
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Change in fair value of contingent consideration(1)
|
847 |
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(364) |
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| Payments of contingent consideration |
(4,430) |
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— |
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| Ending balance |
$ |
1,148 |
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$ |
5,118 |
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(1)Includes immaterial impact of foreign currency translation.
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| Schedule of Fair Value Liabilities Measured On Recurring Basis Valuation Techniques |
Quantitative information about the valuation technique and significant unobservable inputs used in the valuation of the Company’s Level 3 financial liabilities measured at fair value on a recurring basis consisted of the following (dollars in thousands):
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Fair Value at
September 30, 2025 |
|
Valuation Technique |
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Unobservable inputs |
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Range (Weighted Average)(1)
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Contingent
consideration
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$ |
1,148 |
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Discounted cash flow |
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Expected life of cash flows |
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0-2.1 |
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(0.8 years) |
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Discount rate |
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4.0%-5.4% |
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(4.8%) |
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Probability of achievement |
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0.0%-100.0% |
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(99.9%) |
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Fair Value at
December 31, 2024 |
|
Valuation Technique |
|
Unobservable inputs |
|
Range (Weighted Average)(1)
|
|
Contingent
consideration
|
$ |
4,731 |
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Discounted cash flow |
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Expected life of cash flows |
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0.3-2.8 years |
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(0.4 years) |
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Discount rate |
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4.8%-6.1% |
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(5.9%) |
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Probability of achievement |
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0.0%-100.0% |
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(98.2%) |
(1)Unobservable inputs were weighted by the relative fair value of the instruments.
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