XML 25 R17.htm IDEA: XBRL DOCUMENT v3.25.3
FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
7.
FAIR VALUE MEASUREMENTS

The following tables present our assets and liabilities carried at fair value that are measured on a recurring basis:

 

 

 

 

 

 

 

Fair Value Measurements
at September 30, 2025 Using

 

 

Balance Sheet Location

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

Short-term cash investments

 

$

200,000

 

 

 

—

 

 

$

200,000

 

 

 

—

 

Equity securities

 

Other assets

 

$

2,065

 

 

$

2,065

 

 

 

—

 

 

 

—

 

Private equity securities

 

Other assets

 

$

2,906

 

 

 

—

 

 

 

—

 

 

$

2,906

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

Accrued expenses & other current liabilities

 

$

15

 

 

 

—

 

 

$

15

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements
at December 31, 2024 Using

 

 

Balance Sheet Location

 

Total

 

 

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 equity securities

 

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:

Certificates of deposit – these investments consist of certificates of deposit with varying maturities. We classify these investments within Level 2 of the valuation hierarchy because fair value is based on indirectly observable market inputs.

 

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 equity securities – other investments in which fair value inputs are unobservable and are therefore classified within Level 3 of the fair value hierarchy.

Derivative financial instruments – these derivatives are foreign currency forward contracts. See Note 6. 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.