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Fair Value Measurements
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents information about the Company's short-term marketable debt securities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
(in thousands)March 31, 2025December 31, 2024
Level 2TotalLevel 2Total
Eurocommercial Papers$208,564 $208,564 $207,701 $207,701 
Certificates of Deposit— — 119,583 119,583 
Total$208,564 $208,564 $327,284 $327,284 

Cash and accounts payable approximate their fair values as of March 31, 2025 and December 31, 2024, due to their short-term nature. Pension plan assets fair value is determined based on Level 2 inputs. The fair value of the outstanding long-term debt is estimated using the net present value of the payments, discounted at an interest rate that is consistent with a market interest rate, which is a Level 2 input as it is not actively traded. As of March 31, 2025, total outstanding debt of $73.0 million is reported at amortized cost which approximates the fair value.