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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 (in thousands):
Fair Value Measurement Based on
March 31, 2024TotalQuoted
Prices in
Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets
Interest rate swap (1)
$52,632 $— $52,632 $— 
Liabilities
Deferred compensation plan liabilities (2)
$9,668 $— $9,668 $— 
Contingent consideration liabilities (3)
$1,021 $— $— $1,021 
December 31, 2023
Assets
Interest rate swap (1)
$37,089 $— $37,089 $— 
Liabilities
Deferred compensation plan liabilities (2)
$9,100 $— $9,100 $— 
Contingent consideration liability (3)
$921 $— $— $921 
(1)The fair value measurement of the Company’s interest rate swap classified within Level 2 of the fair value hierarchy is a model-derived valuation as of a given date in which all significant inputs are observable in active markets including certain financial information and certain assumptions regarding past, present, and future market conditions. Refer to Note 16. Financial Instruments for information on the Company's interest rate swap.
(2)These liabilities are recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants.
(3)The fair value measurement of contingent consideration liabilities has been classified as Level 3 recurring liabilities as the valuations require judgment and estimation of factors that are not currently observable in the market. If different assumptions were used for various inputs, the estimated fair values could be higher or lower than what the Company determined. For the three months ended March 31, 2024, there was no material activity or payments related to the contingent consideration liabilities.
Summary of the Company’s Indebtedness at Fair Value
The following is a summary of the Company’s indebtedness at fair value (in thousands):
March 31, 2024December 31, 2023
Term Loan Due 2025$192,099 $190,779 
Term Loan Due 2028$2,339,870 $2,328,130 
Sellers Notes$41,944 $41,033