v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of the Company's financial assets and financial liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands):

 

 

 

 

 

At June 30, 2026

 

 

 

 

 

Quoted prices in

 

 

 

 

 

 

 

 

 

 

 

active markets

 

 

Significant

 

 

Significant

 

 

June 30,

 

 

for identical

 

 

other observable

 

 

unobservable

 

 

2026

 

 

assets (Level 1)

 

 

inputs (Level 2)

 

 

inputs (Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds (i)

 

$

25,440

 

 

$

25,440

 

 

$

-

 

 

$

-

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury securities (ii)(v)

 

 

75,695

 

 

 

-

 

 

 

75,695

 

 

 

-

 

Bank certificates of deposit (ii)

 

 

40,872

 

 

 

-

 

 

 

40,872

 

 

 

-

 

Corporate notes (ii)

 

 

46,264

 

 

 

-

 

 

 

46,264

 

 

 

-

 

Commercial paper (ii)(vi)

 

 

709

 

 

 

-

 

 

 

709

 

 

 

-

 

Asset-backed securities (ii)

 

 

12,691

 

 

 

-

 

 

 

12,691

 

 

 

-

 

Municipal bonds (ii)

 

 

309

 

 

 

-

 

 

 

309

 

 

 

-

 

Investments held for deferred compensation plans (iii)

 

 

23,428

 

 

 

-

 

 

 

23,428

 

 

 

-

 

Total Assets

 

$

225,408

 

 

$

25,440

 

 

$

199,968

 

 

$

-

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plans (iv)

 

$

22,348

 

 

$

-

 

 

$

22,348

 

 

$

-

 

Contingent consideration (vii)

 

 

8,714

 

 

 

-

 

 

 

-

 

 

 

8,714

 

Total Liabilities

 

$

31,062

 

 

$

-

 

 

$

22,348

 

 

$

8,714

 

 

(i)
Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets.
(ii)
Included in short-term investments on the condensed consolidated balance sheets.
(iii)
Included in deposits and other assets on the condensed consolidated balance sheets.
(iv)
Included in other liabilities on the condensed consolidated balance sheets.
(v)
Two U.S. treasury securities totaling $4,090 (in thousands) are included in cash and cash equivalents on the condensed consolidated balance sheets, as the investment has a maturity of three months or less from the date of purchase on the consolidated balance sheets.
(vi)
One commercial paper security totaling $709 (in thousands) is included in cash and cash equivalents on the condensed consolidated balance sheets, as the investment has a maturity of three months or less from the date of purchase on the consolidated balance sheets.
(vii)
Of the total $8.7 million, $7.8 million and $0.9 million are included in other liabilities and accrued liabilities, respectively, on the condensed consolidated balance sheets.

 

 

 

 

 

At December 31, 2025

 

 

 

 

 

Quoted prices in

 

 

 

 

 

 

 

 

 

 

 

active markets

 

 

Significant

 

 

Significant

 

 

December 31,

 

 

for identical

 

 

other observable

 

 

unobservable

 

 

2025

 

 

assets (Level 1)

 

 

inputs (Level 2)

 

 

inputs (Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds (i)

 

$

28,301

 

 

$

28,301

 

 

$

-

 

 

$

-

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury securities (ii)

 

 

67,170

 

 

 

-

 

 

 

67,170

 

 

 

-

 

Commercial paper (ii)

 

 

10,813

 

 

 

-

 

 

 

10,813

 

 

 

-

 

Bank certificates of deposit (ii)

 

 

61,006

 

 

 

-

 

 

 

61,006

 

 

 

-

 

Corporate notes (ii)

 

 

36,110

 

 

 

-

 

 

 

36,110

 

 

 

-

 

Asset-backed securities (ii)

 

 

10,623

 

 

 

-

 

 

 

10,623

 

 

 

-

 

      Municipal bonds (ii)

 

 

2,225

 

 

 

-

 

 

 

2,225

 

 

 

-

 

Investments held for deferred compensation plans (iii)

 

 

19,541

 

 

 

-

 

 

 

19,541

 

 

 

-

 

Total Assets

 

$

235,789

 

 

$

28,301

 

 

$

207,488

 

 

$

-

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plans (iv)

 

$

18,493

 

 

$

-

 

 

$

18,493

 

 

$

-

 

Contingent consideration (v)

 

 

9,265

 

 

 

-

 

 

 

-

 

 

 

9,265

 

Total Liabilities

 

$

27,758

 

 

$

-

 

 

$

18,493

 

 

$

9,265

 

 

(i)
Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the condensed consolidated balance sheets.
(ii)
Included in short-term investments on the condensed consolidated balance sheets.
(iii)
Included in deposits and other assets on the condensed consolidated balance sheets.
(iv)
Included in other liabilities on the condensed consolidated balance sheets.
(v)
Of the total $9.3 million, $8.7 million and $0.6 million are included in other liabilities and accrued liabilities, respectively, on the condensed consolidated balance sheets.
Schedule of Rollforward of the Contingent Consideration Liability

As of June 30, 2026 and December 31, 2025 the contingent consideration liability was $8.7 million and $9.3 million, respectively. A roll forward of activity for the six months ended June 30, 2026 is as follows:

 

 

 

June 30,

 

 

 

2026

 

Balance at December 31, 2025

 

$

9,265

 

Additions

 

 

-

 

Payments

 

 

(551

)

Balance at June 30, 2026

 

$

8,714