Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Values of Financial Instruments Measured On Recurring Basis

The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):

December 31, 2023	Level 1		Level 2		Level 3		Fair Value		Carrying Value
Assets:
Cash equivalents:
Money market and other funds	$	340,928	$	—	$	—	$	340,928	$	340,928
Short-term investments:
Consensus common stock	27,109		—		—		$	27,109	27,109
Long-term investments:
Investment in corporate debt securities	—		—		15,699		15,699		15,699
Total assets measured at fair value	$	368,037	$	—	$	15,699	$	383,736	$	383,736
Liabilities:
Contingent consideration	$	—	$	—	$	2,834	$	2,834	$	2,834
Total liabilities measured at fair value	$	—	$	—	$	2,834	$	2,834	$	2,834

December 31, 2022	Level 1		Level 2		Level 3		Fair Value		Carrying Value
Assets:
Cash equivalents:
Money market and other funds	$	312,010	$	—	$	—	$	312,010	$	312,010
Short-term investments:
Consensus common stock	58,421		—		—		$	58,421	$	58,421
Long-term investments:
Investment in corporate debt securities	—		—		15,586		15,586		15,586
Total assets measured at fair value	$	370,431	$	—	$	15,586	$	386,017	$	386,017
Liabilities:
Contingent consideration	$	—	$	—	$	555	$	555	$	555
Total liabilities measured at fair value	$	—	$	—	$	555	$	555	$	555

Reconciliation of Level 3 Financial Assets Measured on Recurring Basis

The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands):

	Year ended December 31,
	2023				2022
	Contingent Consideration Arrangements		Corporate Debt Securities		Contingent Consideration Arrangements		Corporate Debt Securities
Balance as of January 1	$	555	$	15,586	$	5,775	$	—
Fair value at date of acquisition	2,834		—		555		15,000
Fair value adjustments (1)	(200)		113		(2,575)		586
Payments	(355)		—		(3,200)		—
Balance as of December 31	$	2,834	$	15,699	$	555	$	15,586

(1)The fair value adjustments to the contingent consideration arrangements in the table above were recorded within ‘General, administrative, and other related costs’ on the Consolidated Statements of Operations during the year ended December 31, 2023 and 2022. The fair value adjustments to the corporate debt securities in the table above were recorded within ‘Change in fair value on available-for-sale investments, net’ on the Consolidated Statements of Comprehensive Income during the year ended December 31, 2023 and 2022.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes:

	Year ended December 31,
	2023				2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
4.625% Senior Notes	$	456,796	$	405,408	$	456,400	$	390,908
1.75% Convertible Notes	$	544,516	$	519,492	$	542,653	$	548,411