| Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis |
The following tables present financial assets and financial liabilities that are measured and recorded in the Company's financial statements at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement Using | | (In thousands) | Total Fair Value | | Level 1 | | Level 2 | | Level 3 | | | | | | | | | March 2025 | | | | | | | | | Financial assets: | | | | | | | | | Cash equivalents: | | | | | | | | | Money market funds | $ | 301,392 | | | $ | 301,392 | | | $ | — | | | $ | — | | | | | | | | | | | Time deposits | 2,104 | | | 2,104 | | | — | | | — | | | Foreign currency exchange contracts | 3,060 | | | — | | | 3,060 | | | — | | | Interest rate swap agreements | 2,508 | | | — | | | 2,508 | | | — | | | Investment securities | 48,743 | | | 48,743 | | | — | | | — | | | Financial liabilities: | | | | | | | | | Foreign currency exchange contracts | 18,422 | | | — | | | 18,422 | | | — | | | | | | | | | | | Deferred compensation | 52,123 | | | — | | | 52,123 | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement Using | | (In thousands) | Total Fair Value | | Level 1 | | Level 2 | | Level 3 | | December 2024 | | | | | | | | | Financial assets: | | | | | | | | | Cash equivalents: | | | | | | | | | Money market funds | $ | 263,637 | | | $ | 263,637 | | | $ | — | | | $ | — | | | Time deposits | 2,575 | | | 2,575 | | | — | | | — | | | Foreign currency exchange contracts | 7,720 | | | — | | | 7,720 | | | — | | | Interest rate swap agreements | 5,390 | | | — | | | 5,390 | | | — | | | Investment securities | 48,976 | | | 48,976 | | | — | | | — | | | Financial liabilities: | | | | | | | | | Foreign currency exchange contracts | 11,620 | | | — | | | 11,620 | | | — | | | | | | | | | | | Deferred compensation | 53,333 | | | — | | | 53,333 | | | — | |
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