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Fair Value Disclosures (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Measured At Fair Value On a Recurring Basis

The following table represents the fair value of the financial instruments measured at fair value on a recurring basis:

 

As of June 30, 2024

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

141,322

 

 

$

 

 

$

 

 

$

141,322

 

Total assets measured at fair value

 

$

141,322

 

 

$

 

 

$

 

 

$

141,322

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

11,414

 

 

$

11,414

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

11,414

 

 

$

11,414

 

 

 

As of December 31, 2023

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents*

 

$

113,271

 

 

$

 

 

$

 

 

$

113,271

 

Total assets measured at fair value

 

$

113,271

 

 

$

 

 

$

 

 

$

113,271

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related liabilities

 

$

 

 

$

 

 

$

20,294

 

 

$

20,294

 

Total liabilities measured at fair value

 

$

 

 

$

 

 

$

20,294

 

 

$

20,294

 

 

* Includes cash invested by the Company in money market accounts with certain financial institutions.

Summary of Reconciliations of Changes In The Fair Value of The Liabilities

The following table reconciles the changes in the fair value of the liabilities categorized within Level 3 of the fair value hierarchy for the six months ended June 30, 2024:

 

Acquisition
related liabilities

 

Balance as of January 1, 2024

 

$

20,294

 

Payments

 

 

(7,619

)

Change in fair value

 

 

(1,261

)

Balance as of June 30, 2024

 

$

11,414