Annual report [Section 13 and 15(d), not S-K Item 405]

Fair Value Measurements (Tables)

v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
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):
December 31, 2025 December 31, 2024
Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3
Assets:
Assets held in rabbi trust $ 13,476  $ —  $ 13,476  $ —  $ 12,191  $ —  $ 12,191  $ — 
Convertible notes $ 5,630  $ —  $ —  $ 5,630  $ 6,347  $ —  $ —  $ 6,347 
Cash equivalents (1):
             
Commercial paper $ 2,396  $ —  $ 2,396  $ —  $ —  $ —  $ —  $ — 
Money market funds 78,686  78,686  —  —  90,737  90,737  —  — 
$ 81,082  $ 78,686  $ 2,396  $ —  $ 90,737  $ 90,737  $ —  $ — 
Marketable debt securities, available-for-sale:                
Short-term investments:                
U.S. treasuries $ —  $ —  $ —  $ —  $ 29,517  $ 29,517  $ —  $ — 
Corporate debt 90,564  —  90,564  —  160,150  —  160,150  — 
ABS and other —  —  —  —  —  —  —  — 
$ 90,564  $ —  $ 90,564  $ —  $ 189,667  $ 29,517  $ 160,150  $ — 
Long-term investments:                
U.S. treasuries $ 29,259  $ 29,259  $ —  $ —  $ 773  $ 773  $ —  $ — 
U.S. government sponsored entities 2,461  —  2,461  —  929  —  929  — 
Corporate debt 54,257  —  54,257  —  30,934  —  30,934  — 
ABS and other 59,724  —  59,724  —  18,511  —  18,511  — 
$ 145,701  $ 29,259  $ 116,442  $ —  $ 51,147  $ 773  $ 50,374  $ — 
Liabilities:                
Contingent consideration $ 720  $ —  $ —  $ 720  $ 4,731  $ —  $ —  $ 4,731 
Deferred consideration $ —  $ —  $ —  $ —  $ 411  $ —  $ 411  $ — 
Deferred compensation liability $ 9,786  $ 9,786  $ —  $ —  $ 8,304  $ 8,304  $ —  $ — 
(1)Included in cash, cash equivalents, and restricted cash on the accompanying consolidated balance sheets.
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):
Years Ended December 31,
2025 2024
Beginning balance $ 4,731  $ 5,482 
Change in fair value of contingent consideration(1)
788  43 
Payments of contingent consideration (4,799) (794)
Ending balance $ 720  $ 4,731 
(1)Includes immaterial impact of foreign currency translation.
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):
Fair Value at
December 31, 2025		 Valuation Technique Unobservable inputs
Range (Weighted Average)(1)
Contingent
consideration
 $ 720  Discounted cash flow Expected life of cash flows
1.0-1.8 years
 (1.0 year)
Discount rate
5.2%-5.2%
(5.2%)
Probability of achievement
0.3%-100.0%
(99.8%)
Fair Value at
December 31, 2024		 Valuation Technique Unobservable inputs
Range (Weighted Average)(1)
Contingent
consideration
 $ 4,731  Discounted cash flow Expected life of cash flows
0.3-2.8 years
 (0.4 years)
Discount rate
4.8%-6.1%
(5.9%)
Probability of achievement
0.0%-100.0%
(98.2%)
(1)Unobservable inputs were weighted by the relative fair value of the instruments.