Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Employee Deferred Compensation Plans

The following table presents the Company’s income from investments held in employee deferred compensation trusts (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Dividend income	$	(2,627)	$	(2,232)	$	(4,698)	$	(3,795)
Realized and unrealized gains	(13,106)		(26,115)		(54,411)		(51,843)
Income from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses)	$	(15,733)	$	(28,347)	$	(59,109)	$	(55,638)

The following table presents the Company’s increase in employee deferred compensation costs and expense related to changes in the fair value of trust assets for its nonqualified employee deferred compensation plans (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Increase in employee deferred compensation costs and expense related to changes in the fair value of trust assets	$	15,733	$	28,347	$	59,109	$	55,638

Schedule of Allocation of Plan Assets

The following tables summarize the Company’s financial instruments by significant category and fair value measurement on a recurring basis (in thousands):


			Fair Value Measurements Using
	Balance at June 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	291,587	$	291,587	—	—

Employee deferred compensation trust assets
Money market funds	$	127,042	$	127,042	—	—
Mutual funds - bond	37,498		37,498		—	—
Mutual funds - stock	370,585		370,585		—	—
Mutual funds - blend	103,355		103,355		—	—
Total employee deferred compensation trust assets	$	638,480	$	638,480	—	—

			Fair Value Measurements Using
	Balance at December 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	351,230	$	351,230	—	—

Employee deferred compensation trust assets
Money market funds	$	124,710	$	124,710	—	—
Mutual funds - bond	35,373		35,373		—	—
Mutual funds - stock	316,764		316,764		—	—
Mutual funds - blend	94,199		94,199		—	—
Total employee deferred compensation trust assets	$	571,046	$	571,046	—	—

Schedule of Accounts Receivable, Allowance for Credit Loss

The following table sets forth the activity in the allowance for credit losses from December 31, 2023, through June 30, 2024 (in thousands):


	Allowance for Credit Losses




Balance as of December 31, 2023	$	25,189
Charges to expense	565
Deductions	(3,419)
Other, including foreign currency translation adjustments	(280)
Balance as of June 30, 2024	$	22,055