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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2024
Accounting Policies [Abstract] |
Schedule of Employee Deferred Compensation Plans | The following table presents the Company’s (income) loss from investments held in employee deferred compensation trusts (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Dividend income |  | $ | (3,007) |  |  | $ | (2,361) |  |  | $ | (7,705) |  |  | $ | (6,156) |
Realized and unrealized (gains) losses |  | (26,223) |  |  | 16,636 |  |  | (80,634) |  |  | (35,207) |
(Income) loss from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses) |  | $ | (29,230) |  |  | $ | 14,275 |  |  | $ | (88,339) |  |  | $ | (41,363) |
The following table presents the Company’s increase (decrease) in employee deferred compensation costs and expense related to changes in the fair value of trust assets for its nonqualified employee deferred compensation plans (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Increase (decrease) in employee deferred compensation costs and expense related to changes in the fair value of trust assets |  | $ | 29,230 |  |  | $ | (14,275) |  |  | $ | 88,339 |  |  | $ | 41,363 |
Schedule of Allocation of Plan Assets | The following tables summarize the Company’s financial instruments by significant category and fair value measurement on a recurring basis (in thousands):
|  |  | Fair Value Measurements Using
| Balance at September 30, 2024 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 308,436 |  |  | $ | 308,436 |  |  | — |  |  | — |
Employee deferred compensation trust assets |  |  |  |  |  |  |
Money market funds | $ | 126,542 |  |  | $ | 126,542 |  |  | — |  |  | — |
Mutual funds - bond | 39,692 |  |  | 39,692 |  |  | — |  |  | — |
Mutual funds - stock | 391,463 |  |  | 391,463 |  |  | — |  |  | — |
Mutual funds - blend | 109,812 |  |  | 109,812 |  |  | — |  |  | — |
Total employee deferred compensation trust assets | $ | 667,509 |  |  | $ | 667,509 |  |  | — |  |  | — |
|  |  | Fair Value Measurements Using
| Balance at December 31, 2023 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 351,230 |  |  | $ | 351,230 |  |  | — |  |  | — |
Employee deferred compensation trust assets |  |  |  |  |  |  |
Money market funds | $ | 124,710 |  |  | $ | 124,710 |  |  | — |  |  | — |
Mutual funds - bond | 35,373 |  |  | 35,373 |  |  | — |  |  | — |
Mutual funds - stock | 316,764 |  |  | 316,764 |  |  | — |  |  | — |
Mutual funds - blend | 94,199 |  |  | 94,199 |  |  | — |  |  | — |
Total employee deferred compensation trust assets | $ | 571,046 |  |  | $ | 571,046 |  |  | — |  |  | — |
Schedule of Accounts Receivable, Allowance for Credit Loss | The following table sets forth the activity in the allowance for credit losses from December 31, 2023, through September 30, 2024 (in thousands):
| Allowance for Credit Losses
Balance as of December 31, 2023 | $ | 25,189 |
Charges to expense | 2,481 |
Deductions | (5,351) |
Other, including foreign currency translation adjustments | 142 |
Balance as of September 30, 2024 | $ | 22,461 |

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- Definition Tabular disclosure of pension and other postretirement benefit arrangements with individual employees, which are generally based on employment contracts between the entity and one or more selected officers or key employees, and which contain a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 25 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483070/710-10-25-9 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 30 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483043/710-10-30-1 + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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