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Financial Instruments and Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Unrealized Gain (Loss) on Investments

The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows:

			Amortized Cost						Unrealized Gains												Fair Value						Cash and Cash Equivalents						Marketable Securities
Balance at September 30, 2024
Cash																											$	192,641					$	—
Level 1(1):
Money market funds																											27,921						—
U.S. Treasury securities			$	188,828					$	38											$	188,866					142,860						46,005
Total Level 1			188,828						38												188,866						170,781						46,005
Total			$	188,828					$	38											$	188,866					$	363,422					$	46,005

			Amortized Cost						Unrealized Gains												Fair Value						Cash and Cash Equivalents						Marketable Securities
Balance at December 31, 2023
Cash																											$	221,980					$	—
Level 1(1):
Money market funds																											13,906						—
U.S. Treasury securities			$	242,228					$	42											$	242,270					176,732						65,538
Total Level 1			242,228						42												242,270						190,638						65,538
Total			$	242,228					$	42											$	242,270					$	412,618					$	65,538

(1)Level 1 – Quoted prices in active markets for identical assets and liabilities.

Schedule of Fair Value, Separate Account Investment

The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value:

												Balance Sheet Classification
												Current Assets												Non-Current Assets												Current Liabilities						Non-current Liabilities
						Fair Value						Other Current Assets												Assets Designated for Retirement and Pension Plans						Investments						Other Current Liabilities						Retirement and Pension Plans
Balance at September 30, 2024
Measured on a recurring basis:
Level 1(1):
U.S. non-qualified deferred compensation plan						$	59,089					$	—											$	—					$	59,089					$	—					$	—
Level 2(2):
Retirement and pension plan assets						12,503						1,300												11,203						—						—						—
Pension benefit obligation						(14,543)						—												—						—						(1,300)						(13,243)
Total Level 2						(2,040)						1,300												11,203						—						(1,300)						(13,243)
Total						$	57,049					$	1,300											$	11,203					$	59,089					$	(1,300)					$	(13,243)

									Balance Sheet Classification
									Current Assets												Non-Current Assets												Current Liabilities						Non-current Liabilities
			Fair Value						Other Current Assets												Assets Designated for Retirement and Pension Plans						Investments						Other Current Liabilities						Retirement and Pension Plans
Balance at December 31, 2023
Measured on a recurring basis:
Level 1(1):
U.S. non-qualified deferred compensation plan			$	47,287					$	—											$	—					$	47,287					$	—					$	—
Level 2(2):
Retirement and pension plan assets			12,394						1,289												11,105						—						—						—
Pension benefit obligation			(14,416)						—												—						—						(1,289)						(13,127)
Total Level 2			(2,022)						1,289												11,105						—						(1,289)						(13,127)
Total			$	45,265					$	1,289											$	11,105					$	47,287					$	(1,289)					$	(13,127)

(1)Level 1 – Quoted prices in active markets for identical assets and liabilities.

(2)Level 2 – Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Schedule of Reconciliation of Level 3 Assets and Liabilities

The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the nine months ended September 30, 2024:

												Earnout						Contingent Compensation
Balance at December 31, 2023												$	(38,601)					$	(18,878)
Earnout accretion												(1,413)						—
Compensation expense												—						(8,220)
Fair value adjustment												(1,211)						—
Payments												—						4,821
Foreign currency translation												(607)						166
Balance at September 30, 2024												$	(41,832)					$	(22,111)

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Tabular disclosure of unrealized gains and losses on investments.

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