Fair Value and Equity Investments (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value and Equity Investments [Abstract]

Assets and 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 September 30, 2024
	Level 1		Level 2		Level 3		Total
Financial assets (liabilities):
Cash equivalents and current investments	$	29,539	$	—	$	—	$	29,539
Derivative financial instruments asset		—		6,258		—		6,258
Life insurance contracts		—		—		43,994		43,994
Contingent consideration		—		—		—		—
Total	$	29,539	$	6,258	$	43,994	$	79,791

	Fair Value at December 31, 2023
	Level 1		Level 2		Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	42,916	$	—	$	—		$	42,916
Derivative financial instruments asset		—		12,689		—			12,689
Life insurance contracts		—		—		45,041			45,041
Contingent consideration		—		—		(6,300	)		(6,300	)
Total	$	42,916	$	12,689	$	38,741		$	94,346

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):

	2024			2023
Beginning balance at January 1	$	45,041		$	40,055
Actual return on plan assets		6,153			2,341
Sales and settlements		(7,200	)		(483	)
Ending balance at September 30	$	43,994		$	41,913

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):

	2024			2023
Beginning balance at January 1	$	(6,300	)	$	(6,364	)
Changes in fair value of contingent consideration		—			(58	)
Payments		6,300			—
Ending balance at September 30	$	—		$	(6,422	)