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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value On a Recurring Basis

Financial instruments measured at fair value on a recurring basis:

			As of June 30, 2025																		As of December 31, 2024
(in thousands)			Total						Level 1						Level 2						Total						Level 1						Level 2
Cash equivalents
Money market funds			$	45,979					$	45,979					$	—					$	41,494					$	41,494					$	—
Commercial paper			18,527						—						18,527						22,689						—						22,689
US Government and agency obligations			17,992						—						17,992						81,535						—						81,535
Municipal debt securities			11,103						—						11,103						10,299						—						10,299
Corporate debt securities			411						—						411						4,133						—						4,133
Total cash equivalents			94,012						45,979						48,033						160,150						41,494						118,656
Short-term
Corporate debt securities			304,380						—						304,380						242,313						—						242,313
Commercial paper			217,224						—						217,224						149,807						—						149,807
US Government and agency obligations			99,939						—						99,939						94,295						—						94,295
Certificates of deposit			7,380						—						7,380						7,239						—						7,239
Municipal debt securities			4,023						—						4,023						1,580						—						1,580
Total short-term			632,946						—						632,946						495,234						—						495,234
Long-term
US Government and agency obligations			5,257						—						5,257						10,452						—						10,452
Corporate debt securities			4,674						—						4,674						39,931						—						39,931
Municipal debt securities			—						—						—						1,342						—						1,342
Total long-term			9,931						—						9,931						51,725						—						51,725
Total financial instruments			$	736,889					$	45,979					$	690,910					$	707,109					$	41,494					$	665,615

Fair Value, Liabilities Measured on Recurring Basis

Carrying value and estimated fair value of long-term debt, including current maturities and without reduction for related costs, are as follows:

			As of June 30, 2025												As of December 31, 2024
(in thousands)			Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value						Fair Value Level
Non-publicly held debt			$	1,558,116					$	1,548,851					$	1,653,737					$	1,667,275					3

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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X

- References

No definition available.

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Namespace Prefix:	us-gaap_
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X

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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