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Retirement Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
Deferred Compensation Plan
Under the Company’s DCP, certain officers and key employees may defer all or any part of their incentive compensation, and the Company may make discretionary awards on behalf of such participants. Elective participant deferrals and discretionary Company awards are received in the form of phantom shares of the Company’s Class B common stock, which are valued for accounting purposes in the same manner as actual shares of Class B common stock, and are recorded as stock‑based compensation expense in the consolidated statements of operations (see Note 15). The DCP has 50,000,000 shares of Class B common stock reserved for issuance. As of December 31, 2024, shares of Class B common stock available for future issuance under the DCP were 4,349,950.
In August 2021, the Company’s Board of Directors approved an amendment to the DCP, which offered to certain active executives in the DCP a one‑time, short‑term election to reallocate a limited portion of their DCP holdings from phantom shares of the Company’s Class B common stock into other phantom investment funds. DCP participants’ holdings in phantom investment funds are classified as liabilities in either Accruals and other current liabilities or Deferred compensation plan liabilities in the consolidated balance sheets as they will be settled in cash upon eventual distribution. The deferred compensation plan liabilities are marked to market at the end of each reporting period, with changes in the liabilities recorded as an expense (income) to Deferred compensation plan in the consolidated statements of operations.
Deferred compensation plan expense (income) was $12,382, $13,580, and $(15,782) for the years ended December 31, 2024, 2023, and 2022, respectively.
For the years ended December 31, 2024, 2023, and 2022, DCP elective participant deferrals were $188, $1,765, and $6,580, respectively. No discretionary contributions were made to the DCP during the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024 and 2023, phantom shares of the Company’s Class B common stock issuable by the DCP were 12,728,808 and 17,364,980, respectively.
The total liabilities related to the DCP is included in the consolidated balance sheets as follows:
December 31,
20242023
Accruals and other current liabilities$3,798 $2,355 
Deferred compensation plan liabilities96,684 88,181 
Total DCP liabilities$100,482 $90,536 
Other Plans
The Company maintains a qualified 401(k) profit‑sharing plan (the “401(k) Plan”) for the benefit of substantially all U.S.‑based full‑time colleagues. The Company may make discretionary profit‑sharing contributions to the 401(k) Plan. The Company matches 50%, up to a maximum of 6% of qualified cash compensation for each eligible participating colleague. The Company’s matching contributions to the 401(k) Plan were $5,472, $5,260, and $4,933, for the years ended December 31, 2024, 2023, and 2022, respectively.
The Company also maintains various retirement benefit plans (primarily defined contribution plans) for colleagues of its international subsidiaries. The Company’s contributions to these plans were $13,531, $13,208, and $11,803, for the years ended December 31, 2024, 2023, and 2022, respectively.