v3.26.1
Fair value measurement
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair value measurement Fair value measurement
The following tables provide information regarding our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025:
Total carrying
 value at
 June 30, 2026
Quoted prices in active
markets (Level 1)		Significant other
observable
Inputs (Level 2)		Significant
unobservable
Inputs (Level 3)
Investments in marketable securities$26,443 $26,443 $— $— 
Derivative assets29,326 — 29,326 — 
Derivative liabilities66,954 — 66,954 — 
Contingent consideration liabilities47,412 — — 47,412 
Total carrying
value at December 31, 2025		Quoted prices in active
markets (Level 1)		Significant other
observable
Inputs (Level 2)		Significant
unobservable
Inputs (Level 3)
Investments in marketable securities$32,830 $32,830 $— $— 
Derivative assets31,879 — 31,879 — 
Derivative liabilities134,254 — 134,254 — 
Contingent consideration liabilities50,218 — — 50,218 
Valuation Techniques
Our financial assets valued based upon Level 1 inputs consist of investments in marketable securities, including money market funds. The investment assets are valued using quoted market prices.
Our financial assets and liabilities valued based upon Level 2 inputs are comprised of foreign currency forward contracts and cross-currency interest rate swap agreements. We use foreign currency forward contracts and cross-currency interest rate swap agreements to manage foreign currency transaction exposure as well as exposure to foreign currency denominated monetary assets and liabilities. We measure the fair value of the foreign currency forwards and cross-currency swap agreements by calculating the amount required to enter into offsetting contracts with similar remaining maturities, based on quoted market prices, and taking into account the creditworthiness of the counterparties.
Our financial liabilities valued based upon Level 3 inputs are comprised of contingent consideration arrangements pertaining to our acquisitions. Our primary non-recurring fair value estimates, which utilize Level 3 inputs, typically include the following: business acquisitions (Note 4) and asset impairments (Note 6).
Contingent consideration
Contingent consideration liabilities, which primarily consist of payment obligations that are contingent upon the achievement of revenue-based goals, but also can be based on other milestones such as regulatory approvals, are remeasured to fair value each reporting period using assumptions including revenue growth rates (based on internal operational budgets and long-range strategic plans), revenue volatility, discount rates, probability of payment and projected payment dates.
The following table provides information regarding changes in our contingent consideration liabilities for the six months ended June 30, 2026:
Contingent consideration
Balance – December 31, 2025
$50,218 
Payments(107)
Revaluations(2,699)
Balance – June 30, 2026 (1)
$47,412 
(1)    As of June 30, 2026, the liability consisted largely of the estimated contingent consideration associated with our 2023 acquisition of Palette Life Sciences AB ("Palette"). Timing of payment is contingent on the resolution of the legal matters discussed in Note 14.