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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of the Changes in Fair Value for Level 3 Liabilities

The table below presents a summary of the changes in fair value for these liabilities.


	Years Ended December 31,
(in thousands)	2025		2024		2023
Beginning balance	$	21,008	$	46,104	$	13,496
New acquisitions and measurement adjustments	28,438		21,052		44,548
Payouts	(14,215)		(43,948)		(12,489)
Interest and fair value adjustments	994		(1,099)		2,981
Charge offset, forfeit and other	852		(1,101)		(2,432)
Ending balance	$	37,077	$	21,008	$	46,104

Schedule of Fair Value, by Balance Sheet Grouping

The following table presents the aggregate fair value and carrying value of our 2035 Senior Notes, which are classified as Level 2 within the fair value hierarchy:


	December 31, 2025				December 31, 2024
(in thousands)	Fair Value		Carrying Value		Fair Value		Carrying Value
2035 Senior Notes	$	512,160	$	486,147	$	—	$	—

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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