Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and liabilities at Fair Value on Recurring Basis

Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands):

	March 31, 2023								December 31, 2022
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Assets:
Assets held in rabbi trust	$	9,953	$	—	$	9,953	$	—	$	9,553	$	—	$	9,553	$	—
Cash equivalents (1):
Commercial paper	$	39,213	$	—	$	39,213	$	—	$	41,324	$	—	$	41,324	$	—
Money market funds	135,353		135,353		—		—		139,025		139,025		—		—
	$	174,566	$	135,353	$	39,213	$	—	$	180,349	$	139,025	$	41,324	$	—
Marketable debt securities, available-for-sale:
Short-term investments:
U.S. treasuries	$	56,439	$	56,439	$	—	$	—	$	134,549	$	134,549	$	—	$	—
Corporate debt	75,843		—		75,843		—		118,041		—		118,041		—
ABS and other	238		—		238		—		844		—		844		—
	$	132,520	$	56,439	$	76,081	$	—	$	253,434	$	134,549	$	118,885	$	—
Long-term investments:
U.S. treasuries	$	17,582	$	17,582	$	—	$	—	$	20,715	$	20,715	$	—	$	—
U.S. government sponsored entities	530		—		530		—		536		—		536		—
Corporate debt	43,573		—		43,573		—		41,358		—		41,358		—
ABS and other	8,808		—		8,808		—		5,986		—		5,986		—
	$	70,493	$	17,582	$	52,911	$	—	$	68,595	$	20,715	$	47,880	$	—
Liabilities:
Contingent consideration	$	7,043	$	—	$	—	$	7,043	$	7,067	$	—	$	—	$	7,067
Deferred consideration	$	3,833	$	—	$	3,833	$	—	$	5,119	$	—	$	5,119	$	—
Deferred compensation liability	$	7,718	$	7,718	$	—	$	—	$	6,661	$	6,661	$	—	$	—

(1) Included in cash, cash equivalents, and restricted cash on the accompanying condensed consolidated balance sheets.

Schedule of Reconciliation of Contingent Consideration Measured at Fair Value on Recurring Basis

A reconciliation of contingent consideration measured at fair value on a recurring basis consisted of the following (in thousands):

	Three Months Ended March 31,
	2023		2022
Beginning balance	$	7,067	$	9,312
Contingent consideration in connection with acquisitions	—		—
Change in fair value of contingent consideration	226		51
Payments of contingent consideration	(250)		—
Ending balance	$	7,043	$	9,363

Fair Value Liabilities Measured On Recurring Basis Valuation Techniques

Quantitative information about the valuation technique and significant unobservable inputs used in the valuation of the Company’s Level 3 financial liabilities measured at fair value on a recurring basis consisted of the following (dollars in thousands):

	Fair Value at March 31, 2023		Valuation Technique	Unobservable inputs	Range (Weighted Average)(1)
Contingent consideration	$	7,043	Discounted cash flow	Expected life of cash flows	0.2-4.6 years	(2.4 years)
				Discount rate	6.0%-6.7%	(6.3%)
				Probability of achievement	0.0%-100.0%	(94.9%)
	Fair Value at December 31, 2022		Valuation Technique	Unobservable inputs	Range (Weighted Average)(1)
Contingent consideration	$	7,067	Discounted cash flow	Expected life of cash flows	0.4-4.8 years	(2.7 years)
				Discount rate	6.0%-7.0%	(6.5)%
				Probability of achievement	0.0%-100.0%	(95.4)%

(1) Unobservable inputs were weighted by the relative fair value of the instruments.