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Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Accounts Receivable, Allowance for Credit Loss
The changes in the allowance for doubtful accounts receivable for the year ended December 31, 2023 are outlined in the table below:

Balance
as of		Balance
as of
(in thousands)December 31, 2022Expense (Deductions), net
Write-Offs1
December 31, 2023
Allowance for Doubtful Accounts$3,240 $730 $88 $3,882 

1Amount is net of recoveries and the effect of foreign currency fluctuations for the year ended December 31, 2023
Schedule of Derivative Assets at Fair Value
The following tables summarize the financial assets and financial liabilities measured at fair value for the Company as of December 31, 2023 and 2022:

 20232022
 (in thousands) 
Level 1Level 2Level 3Level 1Level 2Level 3
Cash equivalents (1)
$163,558 $— $— $125,052 $— $— 
Term loan due 2027 (2)
— 410,625 — — 433,125 
Revolver due 2027 (2)
— 75,038 — — 150,038 
Derivative instruments - assets (3)
— 21,835 — — 43,885 — 
Derivative instruments - liabilities (3)
— 30,111 — — 8,026 — 
Contingent considerations— — 6,600 — — 6,500 

(1) The carrying amounts of cash equivalents, representing government and other money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of December 31, 2023 and 2022 as a component of "Cash and cash equivalents".
(2) The carrying amounts of our term loan and revolver approximate fair value as of December 31, 2023 and 2022 based upon their terms and conditions as disclosed in Note 14 in comparison to debt instruments with similar terms and conditions available on the same date.
(3) Derivatives for interest rate, foreign exchange and forward swap contracts are discussed in Note 9.