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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis using the above categories, as of the periods presented.


		As of September 30, 2024
Description		Level 1				Level 2				Level 3				Total
Cash equivalents
Money market mutual funds (1)		$	60,510			$	-			$	-			$	60,510
Rabbi trust-owned life insurance policies (at cash surrender value) (2)			-				2,823				-				2,823
Total assets		$	60,510			$	2,823			$	-			$	63,333

Other long-term liabilities
Deferred compensation		$	-			$	2,429			$	-				2,429
Total liabilities		$	-			$	2,429			$	-			$	2,429


		As of December 31, 2023
Description		Level 1				Level 2				Level 3				Total
Cash equivalents
Money market mutual funds (1)		$	226,715			$	-			$	-			$	226,715
Rabbi trust-owned life insurance policies (at cash surrender value) (2)			-				1,866				-				1,866
Total assets		$	226,715			$	1,866			$	-			$	228,581

Other long-term liabilities
Deferred compensation		$	-			$	2,398			$	-				2,398
Total liabilities		$	-			$	2,398			$	-			$	2,398

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(1)	Money market funds are classified as cash equivalents in the Company’s unaudited consolidated balance sheets. As short-term, highly liquid investments readily convertible to known amounts of cash with remaining maturities of three months or less at the time of purchase, the Company’s cash equivalent money market funds have carrying values that approximate fair value.
(2)	Fair value of insurance policies represents their cash surrender value based on the underlying investments in the account which is determined based on quoted prices for identical or similar financial instruments in active markets.