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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following table summarizes our assets and (liabilities) at June 30, 2025 and December 31, 2024, respectively, that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value (in thousands):
LevelJune 30, 2025December 31, 2024
Assets of deferred compensation plan1$177,150 $167,170 
Available-for-sale debt securities1$38,911 $40,999 
Other depository assets1$2,428 $176 
Deferred compensation plan obligations1$(177,150)$(167,170)
Interest rate swaps2$(1,940)$2,681 
Bank debt2$(1,554,489)$(1,399,932)
Contingent purchase price liabilities3$(48,733)$(96,967)
During the six months ended June 30, 2025 and 2024, there were no transfers between the valuation hierarchy Levels 1, 2 and 3.
The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the six months ended June 30, 2025 and 2024 (pre-tax basis, in thousands):
20252024
Beginning balance – December 31$(96,967)$(114,946)
Additions from business acquisitions(2,941)(15,184)
Settlement of contingent purchase price liabilities52,662 46,929 
Change in fair value of contingencies170 423 
Change in net present value of contingencies(1,657)(1,061)
Ending balance – June 30$(48,733)$(83,839)

The following table summarizes the changes in contingent purchase price consideration for previous acquisitions and contingent payments made for previous business acquisitions in the three and six months ended June 30, 2025 and 2024, respectively (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Net expense$1,020 $204 $1,487 $638 
Cash settlement paid$19,245 $9,898 $48,764 $40,855 
Shares issued (number) 1434 4794
Refer to the Annual Report on Form 10-K for the year ended December 31, 2024 for further discussion on the fair value measurements and classification of our financial assets and liabilities.