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Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Fair Value, by Balance Sheet Grouping | The following tables summarize the financial assets and financial liabilities measured at fair value for the Company as of June 30, 2024 and 2023:
| 2024 |  | 2023 |
(in thousands) | Level 1 | Level 2 | Level 3 |  | Level 1 | Level 2 | Level 3
Cash equivalents (1) | $ | 71,919 |  | $ | — |  | $ | — |  |  | $ | 248,063 |  | $ | — |  | $ | — |
Term loan due 2027 (2) | — |  | 399,375 |  | — |  |  | $ | — |  | 421,875 |  | — |
Revolver due 2027 (2) | — |  | 75,038 |  | — |  |  | — |  | 150,038 |  | — |
Derivative instruments - assets (3) | — |  | 33,464 |  | — |  |  | — |  | 37,864 |  | — |
Derivative instruments - liabilities (3) | — |  | 15,886 |  | — |  |  | — |  | 18,609 |  | — |
Contingent considerations | — |  | — |  | 6,511 |  |  | — |  | — |  | 6,500 |
(1) The carrying amounts of cash equivalents, representing money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of June 30, 2024 and 2023 as a component of "Cash and cash equivalents". (2) The carrying amounts of our term loan and revolver approximate fair value as of June 30, 2024 based upon their terms and conditions 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 7.
Accounts Receivable, Allowance for Credit Loss | The changes in the allowance for doubtful accounts receivable for the six months ended June 30, 2024 are outlined in the table below:
| December 31, 2023 | Expense (Deductions), net | Write-Offs 1 | June 30, 2024
Allowance for doubtful accounts | $ | 3,882 |  | (1,008) |  | 709 |  | $ | 2,165 |
1 Amount is net of recoveries and the effect of foreign currency fluctuations.

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