| 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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June 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 |
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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 |
$ |
12,757 |
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$ |
— |
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$ |
12,757 |
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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 |
$ |
6,614 |
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$ |
— |
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$ |
— |
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$ |
6,614 |
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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 |
23,868 |
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23,868 |
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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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$ |
23,868 |
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$ |
23,868 |
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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 |
$ |
21,750 |
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$ |
21,750 |
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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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| U.S. government sponsored entities |
3,963 |
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— |
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3,963 |
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— |
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— |
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— |
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— |
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— |
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| Corporate debt |
107,233 |
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— |
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107,233 |
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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 |
3,515 |
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— |
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3,515 |
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— |
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— |
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— |
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— |
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— |
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$ |
136,461 |
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$ |
21,750 |
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$ |
114,711 |
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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 |
$ |
21,052 |
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$ |
21,052 |
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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 |
915 |
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— |
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915 |
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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 |
36,231 |
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— |
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36,231 |
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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 |
52,008 |
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— |
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52,008 |
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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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$ |
110,206 |
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$ |
21,052 |
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$ |
89,154 |
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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 |
$ |
820 |
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$ |
— |
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$ |
— |
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$ |
820 |
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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 |
$ |
9,067 |
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$ |
9,067 |
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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 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
June 30, 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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$ |
820 |
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Discounted cash flow |
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Expected life of cash flows |
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0.3-2.3 years |
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(0.9 years) |
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Discount rate |
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3.8%-5.6% |
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(4.7%) |
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Probability of achievement |
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0.1%-100.0% |
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(99.9%) |
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Fair Value at
December 31, 2024 |
|
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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