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FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2024
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, 2024Quoted 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, 2024
    
Assets    
Money market funds (1)
$251,669 $— $— $251,669 
Equity mutual funds (2)
$26 $— $— $26 
Cross currency swaps (3)
$— $1,046 $— $1,046 
Foreign currency exchange contracts (3)
$— $4,774 $— $4,774 
Interest rate swap (4)
$— $3,256 $— $3,256 
Liabilities
Cross currency swaps (3)
$— $2,736 $— $2,736 
Foreign currency exchange contracts (3)
$— $1,080 $— $1,080 
Deferred compensation (5)
$26 $— $— $26 
Contingent Consideration$— $— $4,400 $4,400 
(in thousands)
As of December 31, 2023Quoted 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, 2023
    
Assets    
Money market funds (1)
$290,807 $— $— $290,807 
Equity mutual funds (2)
$99 $— $— $99 
Cross currency swaps (3)
$— $664 $— $664 
Foreign currency exchange contracts (3)
$— $1,783 $— $1,783 
Interest rate swap (4)
$— $1,451 $— $1,451 
Liabilities
Cross currency swaps (3)
$— $5,041 $— $5,041 
Foreign currency exchange contracts (3)
$— $5,532 $— $5,532 
Deferred compensation (5)
$99 $— $— $99 

(1)Money market funds with an original maturity of less than ninety days are included within cash and cash equivalents. The remaining balance of cash and cash equivalents as of March 31, 2024, consists of demand deposits.
(2)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 current assets. Refer to footnote (5) below for a discussion of the related deferred compensation liability.
(3)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.
(4)Interest rate swap is included within other long-term assets.
(5)A deferred compensation plan assumed as part of a previous business combination is included within accrued liabilities. The fair value of our deferred compensation plan is indexed to the performance of the underlying equity mutual funds discussed in footnote (2) above.
Schedule of Contingent Consideration Liability The fair values of liabilities for contingent consideration for the three months ended March 31, 2024 and 2023, are as follows:
Three Months Ended
March 31,
(in thousands)20242023
 
Contingent consideration at the beginning of the period$— $120 
Contingent consideration recorded from acquisition4,400 — 
Contingent consideration at the end of the period$4,400 $120