Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of fair value of assets and liabilities measured on recurring basis

The following tables set forth our assets and liabilities that were measured at fair value on a recurring basis by level within the fair value hierarchy:

(in thousands)
As of March 31, 2023	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of March 31, 2023
Assets
Equity mutual funds (1)	$	292	$	—	$	—	$	292
Cross currency swaps (2)	$	—	$	7,906	$	—	$	7,906
Foreign currency exchange contracts (2)	$	—	$	4,355	$	—	$	4,355
Liabilities
Cross currency swaps (2)	$	—	$	271	$	—	$	271
Foreign currency exchange contracts (2)	$	—	$	3,770	$	—	$	3,770
Interest rate swap (3)	$	—	$	59	$	—	$	59
Deferred compensation (4)	$	292	$	—	$	—	$	292
Contingent payments - acquisitions	$	—	$	—	$	120	$	120

(in thousands)
As of December 31, 2022	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of December 31, 2022
Assets
Equity mutual funds (1)	$	385	$	—	$	—	$	385
Cross currency swaps (2)	$	—	$	9,262	$	—	$	9,262
Foreign currency exchange contracts (2)	$	—	$	5,185	$	—	$	5,185
Liabilities
Foreign currency exchange contracts (2)	$	—	$	4,572	$	—	$	4,572
Deferred compensation (4)	$	385	$	—	$	—	$	385
Contingent payments - acquisitions	$	—	$	—	$	120	$	120

(1)Equity mutual funds relate to a deferred compensation plan that was assumed as part of a previous business combination. This amount is included within other long-term assets. Refer to footnote (4) below for a discussion of the related deferred compensation liability. 

(2)Cross currency swaps and foreign currency exchange contracts are included within other current assets, other long-term assets, accrued liabilities, or other long-term liabilities depending on the gain (loss) position and anticipated settlement date.  

(3)Interest rate swap is included within other long-term liabilities.

(4)A deferred compensation plan assumed as part of a previous business combination is included within accrued liabilities and other long-term liabilities. The fair value of our deferred compensation plan is indexed to the performance of the underlying equity mutual funds discussed in footnote (1) above.

Schedule of contingent consideration liability

Changes in contingent consideration liabilities are measured at fair value on a recurring basis using unobservable inputs (Level 3) and during the three months ended March 31, 2023, are as follows:

(in thousands)	Fair Value
Contingent consideration as of December 31, 2022	$	120
Payment of contingent consideration	—
Contingent consideration as of March 31, 2023	$	120