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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Measurements  
Schedule of fair value hierarchy

The carrying values of our assets that are required to be measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands):

    

Fair Value Measurements

    

Level 1

    

Level 2

    

Level 3

    

Total

June 30, 2025

 

Assets:

 

  

 

  

 

  

 

  

Money market mutual fund

$

204,477

$

$

$

204,477

Mutual funds

 

98,288

 

 

 

98,288

U.S. Treasury notes

 

31,505

 

 

 

31,505

Corporate debt securities

 

52,766

 

 

 

52,766

$

387,036

$

$

$

387,036

Liabilities:

Convertible Senior Notes

$

$

184,504

$

$

184,504

Contingent consideration

 

 

628

 

628

$

$

184,504

$

628

$

185,132

Fair Value Measurements 

    

Level 1

    

Level 2

    

Level 3

    

Total

December 31, 2024

Assets:

 

  

 

  

 

  

 

  

Money market mutual fund

$

134

$

$

$

134

Mutual funds

 

97,675

 

 

 

97,675

U.S. Treasury notes

 

41,948

 

 

 

41,948

Corporate debt securities

 

76,837

 

 

 

76,837

$

216,594

$

$

$

216,594

Liabilities:

Convertible Senior Notes

$

$

198,217

$

$

198,217

Contingent consideration

 

 

6,559

 

6,559

$

$

198,217

$

6,559

$

204,776

Schedule of estimated fair values and the carrying values

The following table presents the estimated fair values and the carrying values (in thousands):

    

June 30, 2025

December 31, 2024

    

Carrying Value

    

Fair Value

    

Carrying Value

    

Fair Value

2026 Senior Notes

$

184,504

$

170,657

$

183,919

$

164,525

2025 Senior Notes

$

$

$

14,298

$

14,125

Schedule of gains recognized in earnings and the change in net assets related to the contingent consideration

The gains recognized in earnings and the change in net assets related to the contingent consideration at June 30, 2025 were as follows (in thousands):

    

Fair Value

    

Gains

    

Reclassification

    

Foreign

    

Fair Value

December 31, 

recognized in

to current

currency

June 30, 

2024

earnings

payables

adjustment

2025

2021 Acquisitions

$

909

$

(92)

$

(869)

$

52

$

2022 Acquisitions

 

742

 

(206)

 

 

92

 

628

2023 Acquisitions

4,908

(4,908)

$

6,559

$

(5,206)

$

(869)

$

144

$

628