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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following table summarizes our assets and (liabilities) at June 30, 2026 and December 31, 2025, 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, 2026December 31, 2025
Assets of deferred compensation plan1$202,044 $186,870 
Other depository assets1$243 $470 
Deferred compensation plan obligations1$(201,964)$(186,870)
Available-for-sale debt securities2$44,778 $45,004 
Interest rate swaps2$2,007 $(3,602)
Bank debt, net
2$(1,459,709)$(1,455,924)
Contingent purchase price liabilities3$(21,012)$(40,248)
During the six months ended June 30, 2026 and 2025, there were no transfers between the valuation hierarchy Levels 1, 2, and 3. The Company reclassified its available-for-sale debt securities from Level 1 to Level 2 as these securities are not traded on an exchange as of June 30, 2026 and December 31, 2025.
The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the six months ended June 30, 2026 and 2025 (pre-tax basis, in thousands):
20262025
Beginning balance – December 31$(40,248)$(96,967)
Additions from business acquisitions(1,835)(2,941)
Settlement of contingent purchase price liabilities19,493 52,662 
Change in fair value of contingencies2,117 170 
Change in net present value of contingencies(539)(1,657)
Ending balance – June 30$(21,012)$(48,733)
The following table summarizes the changes in contingent purchase price consideration for previous acquisitions and contingent payments made for previous business acquisitions in the three and six months ended June 30, 2026 and 2025, respectively (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Net (income) expense$(1,773)$1,020 $(1,578)$1,487 
Cash settlement paid$11,910 $19,245 $18,211 $48,764 
Shares issued (number) 36 14 3647
Refer to Note 8, Fair Value Measurements, to the consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2025, as amended, for further discussion on the fair value measurements and classification of our financial assets and liabilities.