Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2025

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Dividend income	$	(2,679)	$	(3,007)	$	(7,674)	$	(7,705)
Realized and unrealized gains	(44,942)		(26,223)		(77,430)		(80,634)
Income from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses)	$	(47,621)	$	(29,230)	$	(85,104)	$	(88,339)

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Increase in employee deferred compensation costs and expense related to changes in the fair value of trust assets	$	47,621	$	29,230	$	85,104	$	88,339

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 September 30, 2025		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	$	154,612	$	154,612	—	—

Employee deferred compensation trust assets
Money market funds	$	144,549	$	144,549	—	—
Mutual funds - bonds	41,974		41,974		—	—
Mutual funds - stocks	443,823		443,823		—	—
Mutual funds - blend	130,815		130,815		—	—
Total employee deferred compensation trust assets	$	761,161	$	761,161	—	—

			Fair Value Measurements Using
	Balance at December 31, 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	$	293,990	$	293,990	—	—

Employee deferred compensation trust assets
Money market funds	$	125,112	$	125,112	—	—
Mutual funds - bonds	38,705		38,705		—	—
Mutual funds - stocks	401,751		401,751		—	—
Mutual funds - blend	107,672		107,672		—	—
Total employee deferred compensation trust assets	$	673,240	$	673,240	—	—

Schedule of Accounts Receivable, Allowance for Credit Loss

The following table sets forth the activity in the allowance for credit losses from December 31, 2024, through September 30, 2025 (in thousands):


	Allowance for Credit Losses




Balance as of December 31, 2024	$	21,961
Charges to expense	3,800
Deductions	(4,645)
Other, including foreign currency translation adjustments	1,246
Balance as of September 30, 2025	$	22,362