Fair Value and Equity Investments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value and Equity Investments [Abstract]

Assets (Liabilities) Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (U.S. dollars in thousands):

	Fair Value at March 31, 2022
	Level 1		Level 2		Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	57,647	$	—	$	—		$	57,647
Derivative financial instruments asset		—		14,664		—			14,664
Life insurance contracts		—		—		46,450			46,450
Contingent consideration		—		—		(10,226	)		(10,226	)
Total	$	57,647	$	14,664	$	36,224		$	108,535

	Fair Value at December 31, 2021
	Level 1		Level 2		Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	66,477	$	—	$	—		$	66,477
Derivative financial instruments asset		—		6,590		—			6,590
Life insurance contracts		—		—		49,851			49,851
Contingent consideration		—		—		(10,341	)		(10,341	)
Total	$	66,477	$	6,590	$	39,510		$	112,577

Changes in Fair Value of Level 3 Life Insurance Contracts

The following table provides a summary of changes in fair value of the Company’s Level 3 life insurance contracts (U.S. dollars in thousands):

	2022			2021
Beginning balance at January 1	$	49,851		$	45,453
Actual return on plan assets		(3,401	)		1,153
Purchase and issuances		—			7,016
Sales and settlements		—			(7,016	)
Transfers into Level 3		—			—
Ending balance at March 31	$	46,450		$	46,606

Changes in Fair Value of Level 3 Contingent Consideration

The following table provides a summary of changes in fair value of the Company’s Level 3 contingent consideration (U.S. dollars in thousands):

	2022			2021
Beginning balance at January 1	$	(10,341	)	$	(3,125	)
Additions from acquisitions		—			—
Changes in fair value of contingent consideration		115			(139	)
Ending balance at March 31	$	(10,226	)	$	(3,264	)