XML 47 R28.htm IDEA: XBRL DOCUMENT v3.25.0.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2024
FAIR VALUE MEASUREMENTS
17. FAIR VALUE MEASUREMENTS
The following tables present our assets and liabilities carried at fair value that are measured on a recurring
basis
:
 
Total
Fair Value Measurements

at December 31, 2024 Using
Balance Sheet Location
Level 1
Level 2
Level 3
Assets:
Certificates of deposit
    Short-term cash investments   
$
255,669
— 
$
255,669
— 
Derivative financial instruments
    Other current assets   
$
6
  
— 
  
$
6
  
— 
Equity securities
    Other assets   
$
1,078
  
$
1,078
     —      
— 
Private equities
    Other assets   
$
1,500
  
— 
  
— 
  
$
1,500
 
Fair Value Measurements

at December 31, 2023 Using
Balance Sheet Location
Total
Level 1
Level 2
Level 3
Assets:
 
Derivative financial instruments
   
Other current assets
    $ 5        —       $ 5        —   
Equity securities
   
Other assets
    $ 1,044      $ 1,044        —         —   
Private equities
   
Other assets
    $ 1,500        —         —       $ 1,500  
The following is a description of the valuation techniques used for these assets and liabilities, as well as the level of input used to measure fair value:
Short-term cash investments
– these investments consist of certificates of deposit that have varying maturities through March 2025. We classify these investments within Level 2 of the valuation hierarchy because fair value is based on indirectly observable market inputs.
Derivative financial instruments
– these derivatives are foreign currency forward and option contracts. See Note 16. Fair value is based on observable market inputs, such as forward rates in active markets; therefore, we classify these derivatives within Level 2 of the valuation hierarchy.
Equity securities
– these investments are exchange-traded equity securities. Fair values for these investments are based on closing stock prices from active markets and are therefore classified within Level 1 of the fair value hierarchy.
Private equities
– other investments in which fair value inputs are unobservable and are therefore classified within Level 3 of the fair value hierarchy.