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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The table below sets forth our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023.
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
June 30, 2024 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 7,157 |  |  | $ | — |  |  | $ | 7,157 |
Convertible debt investment |  | — |  |  | — |  |  | 57,550 |  |  | 57,550 |
Foreign exchange forward contracts |  | — |  |  | 25 |  |  | — |  |  | 25 |
Deferred compensation assets |  | — |  |  | 38,978 |  |  | — |  |  | 38,978 |
Total assets |  | $ | — |  |  | $ | 46,160 |  |  | $ | 57,550 |  |  | $ | 103,710 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 78 |  |  | $ | — |  |  | $ | 78 |
Foreign exchange forward contracts |  | — |  |  | 7 |  |  | — |  |  | 7 |
Contingent consideration for business acquisitions |  | — |  |  | — |  |  | 694 |  |  | 694 |
Total liabilities |  | $ | — |  |  | $ | 85 |  |  | $ | 694 |  |  | $ | 779 |
December 31, 2023 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 7,546 |  |  | $ | — |  |  | $ | 7,546 |
Convertible debt investment |  | — |  |  | — |  |  | 68,046 |  |  | 68,046 |
Deferred compensation assets |  | — |  |  | 34,826 |  |  | — |  |  | 34,826 |
Total assets |  | $ | — |  |  | $ | 42,372 |  |  | $ | 68,046 |  |  | $ | 110,418 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 307 |  |  | $ | — |  |  | $ | 307 |
Foreign exchange forward contracts |  | — |  |  | 70 |  |  | — |  |  | 70 |
Contingent consideration for business acquisitions |  | — |  |  | — |  |  | 2,074 |  |  | 2,074 |
Total liabilities |  | $ | — |  |  | $ | 377 |  |  | $ | 2,074 |  |  | $ | 2,451 |
Fair Value of Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The table below sets forth the changes in the balance of the convertible debt investment for the six months ended June 30, 2024.
|  | Convertible Debt Investment
Balance as of December 31, 2023 |  | $ | 68,046 |
Change in fair value |  | (10,496) |
Balance as of June 30, 2024 |  | $ | 57,550 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The table below sets forth the changes in the balance of the contingent consideration for business acquisitions for the six months ended June 30, 2024.
|  | Contingent Consideration for Business Acquisitions
Balance as of December 31, 2023 |  | $ | 2,074 |
Acquisition |  | 36 |
Payment |  | (1,000) |
Change in fair value |  | (416) |
Balance as of June 30, 2024 |  | $ | 694 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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