FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2022

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value of Assets and Liabilities Measured on Recurring Basis

(In thousands)	Balance at September 30, 2022		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	2,247	$	2,247	$	—	$	—
Municipal bonds		129,479		—		129,479		—
Corporate debt securities		455,621		—		455,621		—
Commercial paper		8,632		—		8,632		—
Asset-backed securities		113,569		—		113,569		—
Government, federal agency, and other sovereign obligations		67,727		—		67,727		—
Liabilities:
Business acquisition liabilities		64,294		—		—		64,294

(In thousands)	Balance at December 31, 2021		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	26,684	$	3,768	$	22,916	$	—
Municipal bonds		157,247		—		157,247		—
Corporate debt securities		430,996		—		430,996		—
Commercial paper		38,253		—		38,253		—
Asset-backed securities		140,651		—		140,651		—
Government, federal agency, and other sovereign obligations		45,706		—		45,706		—
Liabilities:
Business acquisition liabilities		70,525		—		—		70,525

Significant Unobservable Inputs in Valuation Techniques

Unobservable input	Range			Weighted Average*
Revenue risk premium	2.4%	-	4.9%	3.0%
Revenue volatility	14.0%	-	15.8%	14.9%
Discount rate	3.8%	-	8.5%	6.2%
Projected year of payment	2022	-	2032

* The weighted average rates were calculated based on the relative fair value of each business acquisition liability.

Changes in Carrying Value of Business Acquisition Liabilities

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2022		2021		2022		2021
Beginning balance	$	68,314	$	47,995	$	70,525	$	37,270
Purchase price contingent consideration		—		12,628		4,414		12,628
Contingent cash payments		(2,657)		(1,613)		(7,264)		(4,628)
Contingent RSU grants		(1,116)		(1,311)		(1,532)		(1,671)
Changes in fair value of business acquisition liabilities		(653)		208		(2,043)		14,336
Contractual payable reclassification		406		(65)		194		(93)
Ending balance	$	64,294	$	57,842	$	64,294	$	57,842