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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025 and December 31, 2024.

						Level 1						Level 2						Level 3						Total
March 31, 2025
Assets:
Interest rate swaps						$	—					$	1,202					$	—					$	1,202
Convertible debt investment						—						—						48,151						48,151
Deferred compensation assets						—						42,673						—						42,673
Total assets						$	—					$	43,875					$	48,151					$	92,026
Liabilities:
Interest rate swaps						$	—					$	1,468					$	—					$	1,468
Foreign exchange forward contracts						—						147						—						147
Contingent consideration for business acquisitions						—						—						71						71
Total liabilities						$	—					$	1,615					$	71					$	1,686
December 31, 2024
Assets:
Interest rate swaps						$	—					$	2,981					$	—					$	2,981
Convertible debt investment						—						—						62,344						62,344
Deferred compensation assets						—						42,083						—						42,083
Total assets						$	—					$	45,064					$	62,344					$	107,408
Liabilities:
Foreign exchange forward contracts						$	—					$	381					$	—					$	381
Contingent consideration for business acquisitions						—						—						221						221
Total liabilities						$	—					$	381					$	221					$	602

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 three months ended March 31, 2025.

						Convertible Debt Investment
Balance as of December 31, 2024						$	62,344
Change in fair value						(14,193)
Balance as of March 31, 2025						$	48,151

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 three months ended March 31, 2025.

						Contingent Consideration for Business Acquisitions
Balance as of December 31, 2024						$	221
Payment						(150)
Balance as of March 31, 2025						$	71

X

- 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

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-Topic 820
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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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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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

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-Topic 820
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