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Fair Value Measurement (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Recorded at Fair Value on Recurring Basis

The following tables present the assets and liabilities recorded at fair value on a recurring basis:

 

Balance at

 

Balance Sheet

Basis of Fair Value Measurement

 

(in thousands)

March 31, 2025

 

Location

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Money market mutual funds

$

113,867

 

Other noncurrent assets

$

113,867

 

 

 

 

 

Certificates of deposit

 

2,206

 

Other noncurrent assets

 

 

 

2,206

 

 

 

Equity securities

 

43,046

 

Other noncurrent assets

 

43,046

 

 

 

 

 

Deferred compensation assets

 

47,571

 

Other noncurrent assets

 

47,571

 

 

 

 

 

 

$

206,690

 

 

$

204,484

 

$

2,206

 

 

-

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward exchange contracts

$

658

 

Accounts payable and other liabilities

 

 

$

658

 

 

 

Deferred compensation liability

 

47,571

 

Other noncurrent liabilities

 

47,571

 

 

 

 

 

 

$

48,229

 

 

$

47,571

 

$

658

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

Balance at

 

Balance Sheet

Basis of Fair Value Measurement

 

(in thousands)

December 31, 2024

 

Location

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Money market mutual funds

$

115,399

 

Other noncurrent assets

$

115,399

 

 

 

 

 

Certificates of deposit

 

2,206

 

Other noncurrent assets

 

 

 

2,206

 

 

 

Equity securities

 

47,333

 

Other noncurrent assets

 

47,333

 

 

 

 

 

Deferred compensation assets

 

49,222

 

Other noncurrent assets

 

49,222

 

 

 

 

 

Foreign currency forward exchange contracts

 

572

 

Other current assets

 

 

 

572

 

 

 

 

$

214,732

 

 

$

211,954

 

$

2,778

 

 

-

 

Liabilities:

 

 

 

 

 

 

 

 

 

Deferred compensation liability

 

49,222

 

Other noncurrent liabilities

 

49,222

 

 

 

 

 

 

$

49,222

 

 

$

49,222

 

$

-

 

 

-