| 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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March 31, 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 |
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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 |
$ |
11,995 |
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$ |
— |
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$ |
11,995 |
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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 |
$ |
6,401 |
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$ |
— |
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$ |
— |
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$ |
6,401 |
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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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| Commercial paper |
$ |
7,070 |
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$ |
— |
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$ |
7,070 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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| Money market funds |
79,483 |
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79,483 |
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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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$ |
86,553 |
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$ |
79,483 |
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$ |
7,070 |
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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 |
$ |
26,301 |
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$ |
26,301 |
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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 |
93,080 |
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— |
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93,080 |
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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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$ |
119,381 |
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$ |
26,301 |
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$ |
93,080 |
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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 |
$ |
793 |
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$ |
793 |
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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 |
932 |
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— |
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932 |
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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 |
27,145 |
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— |
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27,145 |
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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 |
32,243 |
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— |
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32,243 |
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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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$ |
61,113 |
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$ |
793 |
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$ |
60,320 |
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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 |
$ |
4,212 |
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$ |
— |
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$ |
— |
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$ |
4,212 |
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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 |
$ |
415 |
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$ |
— |
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$ |
415 |
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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 |
$ |
8,350 |
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$ |
8,350 |
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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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| 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
March 31, 2025 |
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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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$ |
4,212 |
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Discounted cash flow |
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Expected life of cash flows |
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0-2.6 years |
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(0.2 years) |
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Discount rate |
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4.1%-5.8% |
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(5.6%) |
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Probability of achievement |
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0.1%-100.0% |
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(98.9%) |
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Fair Value at
December 31, 2024 |
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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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$ |
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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