Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
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):
March 31, 2026 December 31, 2025
Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3
Assets:
Assets held in rabbi trust $ 13,165  $ —  $ 13,165  $ —  $ 13,476  $ —  $ 13,476  $ — 
Convertible notes $ 5,774  $ —  $ —  $ 5,774  $ 5,630  $ —  $ —  $ 5,630 
Cash equivalents (1):
             
Commercial paper $ 20,138  $ —  $ 20,138  $ —  $ 2,396  $ —  $ 2,396  $ — 
Money market funds 20,847  20,847  —  —  78,686  78,686  —  — 
$ 40,985  $ 20,847  $ 20,138  $ —  $ 81,082  $ 78,686  $ 2,396  $ — 
Marketable debt securities, available-for-sale:                
Short-term investments:                
U.S. treasuries $ 2,003  $ 2,003  $ —  $ —  $ —  $ —  $ —  $ — 
Corporate debt 54,524  —  54,524  —  90,564  —  90,564  — 
$ 56,527  $ 2,003  $ 54,524  $ —  $ 90,564  $ —  $ 90,564  $ — 
Long-term investments:                
U.S. treasuries $ 27,042  $ 27,042  $ —  $ —  $ 29,259  $ 29,259  $ —  $ — 
U.S. government sponsored entities 2,390  —  2,390  —  2,461  —  2,461  — 
Corporate debt 51,013  —  51,013  —  54,257  —  54,257  — 
ABS and other 61,067  —  61,067  —  59,724  —  59,724  — 
$ 141,512  $ 27,042  $ 114,470  $ —  $ 145,701  $ 29,259  $ 116,442  $ — 
Liabilities:                
Contingent consideration $ 582  $ —  $ —  $ 582  $ 720  $ —  $ —  $ 720 
Deferred compensation liability $ 9,652  $ 9,652  $ —  $ —  $ 9,786  $ 9,786  $ —  $ — 
(1)Included in cash, cash equivalents, and restricted cash on the accompanying condensed 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):
Three Months Ended March 31,
2026 2025
Beginning balance $ 720  $ 4,731 
Change in fair value of contingent consideration(1)
112  (519)
Payments of contingent consideration (250) — 
Ending balance $ 582  $ 4,212 
(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
March 31, 2026		 Valuation Technique Unobservable inputs
Range (Weighted Average)(1)
Contingent
consideration
 $ 582  Discounted cash flow Expected life of cash flows
0.8-1.6 years
 (0.8 years)
Discount rate
5.6%-5.6%
(5.6%)
Probability of achievement
0.3%-94.8%
(94.4%)
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
1-1.8 years
 (1 year)
Discount rate
5.2%-5.2%
(5.2%)
Probability of achievement
0.3%-100.0%
(99.8%)
(1)Unobservable inputs were weighted by the relative fair value of the instruments.