Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the fair value of our derivative assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2026 and December 31, 2025 by level within the fair value hierarchy:


	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Total
	(in thousands)
September 30, 2026
Financial assets:
Derivative assets	$	—	$	123,464	$	—	$	123,464
Vital contingent earn-out consideration	—		—		30,983		30,983
Financial liabilities:
Derivative liabilities	$	—	$	(365,392)	$	—	$	(365,392)
Ridgemar contingent earn-out consideration	—		(33,692)		—		(33,692)
December 31, 2025
Financial assets:
Derivative assets	$	—	$	369,724	$	—	$	369,724
Vital contingent earn-out consideration	—		—		17,590		17,590
Financial liabilities:
Derivative liabilities	$	—	$	(57,532)	$	—	$	(57,532)
Ridgemar contingent earn-out consideration	—		(26,870)		—		(26,870)

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation


	As of September 30, 2026
	(in thousands)
Rollforward of Recurring Level 3 Fair Value Measurements:
Beginning balance	$	17,590
Unrealized gain (loss) on Vital contingent earn-out consideration	13,393
Ending balance	$	30,983

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation


	As of September 30, 2026
	(in thousands)
Rollforward of Recurring Level 3 Fair Value Measurements:
Beginning balance	$	17,590
Unrealized gain (loss) on Vital contingent earn-out consideration	13,393
Ending balance	$	30,983

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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