FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table shows the fair values of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023:


	As of December 31, 2023
	Balance		Level 1		Level 2		Level 3
Foreign exchange derivative assets	$	10,416	$	—	$	10,416	$	—
Total assets measured at fair value on a recurring basis	$	10,416	$	—	$	10,416	$	—

Foreign exchange derivative liabilities	$	248	$	—	$	248	$	—
Contingent consideration	23,150		—		—		23,150
Total liabilities measured at fair value on a recurring basis	$	23,398	$	—	$	248	$	23,150

The following table shows the fair values of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022.


	As of December 31, 2022
	Balance		Level 1		Level 2		Level 3
Foreign exchange derivative assets	$	12,191	$	—	$	12,191	$	—
Rights to acquire noncontrolling interest in consolidated subsidiaries	334		—		—		334
Total assets measured at fair value on a recurring basis	$	12,525	$	—	$	12,191	$	334

Foreign exchange derivative liabilities	$	9,350	$	—	$	9,350	$	—
Contingent consideration	24,308		—		—		24,308
Total liabilities measured at fair value on a recurring basis	$	33,658	$	—	$	9,350	$	24,308

Schedule of Acquisition-Related Contingent Consideration Roll Forward

A reconciliation of the beginning and ending balances of Level 3 contingent consideration liabilities using significant unobservable inputs for the years ended December 31, 2021, December 31, 2022, and December 31, 2023 are as follows:


	Amount
Contingent consideration liabilities as of January 1, 2021	$	7,470
Acquisition date fair value of contingent consideration — PolSource acquisition	35,400
Acquisition date fair value of contingent consideration — CORE acquisition	4,007
Acquisition date fair value of contingent consideration — Emakina acquisition	213
Acquisition date fair value of contingent consideration — Other 2021 Acquisitions	17,629
Changes in fair value of contingent consideration included in Interest and other income/(loss), net	8,782
Payment of contingent consideration for previously acquired businesses	(50,000)
Effect of net foreign currency exchange rate changes	(387)
Contingent consideration liabilities as of December 31, 2021	$	23,114
Acquisition date fair value of contingent consideration — 2022 Acquisitions	2,645
Changes in fair value of contingent consideration included in Interest and other income/(loss), net	11,101
Payment of contingent consideration for previously acquired businesses	(11,328)
Effect of net foreign currency exchange rate changes	(1,224)
Contingent consideration liabilities as of December 31, 2022	$	24,308
Acquisition date fair value of contingent consideration — 2023 Acquisitions	14,850
Changes in fair value of contingent consideration included in Interest and other income/(loss), net	2,814
Payment of contingent consideration for previously acquired businesses	(18,844)
Effect of net foreign currency exchange rate changes	22
Contingent consideration liabilities as of December 31, 2023	$	23,150

See Note 2 “Impact of the Invasion of Ukraine” for discussion of the nonrecurring Level 3 fair value assessment used in the impairment test of long-lived assets in Russia during the year ended December 31, 2022.

Schedule of Estimated Fair Values of Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

The following tables present the estimated fair values of the Company’s financial assets and liabilities not measured at fair value on a recurring basis as of the dates indicated:


					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Financial Assets:
Cash equivalents:
Money market funds	$	168,120	$	168,120	$	168,120	$	—	$	—
Time deposits	$	105,210	$	105,210	$	—	$	105,210	$	—
Total cash equivalents	$	273,330	$	273,330	$	168,120	$	105,210	$	—
Time deposits included in Short-term investments	$	60,739	$	60,739	$	—	$	60,739	$	—
Financial Liabilities:
Borrowings under 2021 Credit Agreement	$	25,000	$	25,000	$	—	$	25,000	$	—
Deferred consideration for asset acquisition	$	46,954	$	46,954	$	—	$	46,954	$	—


					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2022
Financial Assets:
Cash equivalents:
Money market funds	$	312,321	$	312,321	$	312,321	$	—	$	—
Total cash equivalents	$	312,321	$	312,321	$	312,321	$	—	$	—
Time deposits included in Short-term investments	$	60,336	$	60,336	$	—	$	60,336	$	—
Financial Liabilities:
Short-term debt	$	2,861	$	2,861	$	—	$	2,861	$	—
Borrowings under 2021 Credit Agreement	$	25,000	$	25,000	$	—	$	25,000	$	—
Other long-term debt	$	2,693	$	2,693	$	—	$	2,693	$	—
Deferred consideration for asset acquisition	$	53,636	$	53,636	$	—	$	53,636	$	—