v3.24.1.1.u2
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Fair Value Measured at Fair Value on Recurring Basis

 

 

As of March 31, 2024

 

(in thousands)

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

64,465

 

 

$

64,465

 

 

$

-

 

 

$

-

 

Investments in proprietary funds

 

 

572

 

 

 

572

 

 

 

-

 

 

 

-

 

Deferred compensation plan investments

 

 

32,952

 

 

 

32,952

 

 

 

-

 

 

 

-

 

Total Financial Assets

 

$

97,989

 

 

$

97,989

 

 

$

-

 

 

$

-

 

Financial Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration arrangements

 

$

(149,400

)

 

$

-

 

 

$

-

 

 

$

(149,400

)

Total Financial Liabilities

 

$

(149,400

)

 

$

-

 

 

$

-

 

 

$

(149,400

)

 

 

 

As of December 31, 2023

 

(in thousands)

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

Money market fund

 

$

109,183

 

 

$

109,183

 

 

$

-

 

 

$

-

 

Investments in proprietary funds

 

 

534

 

 

 

534

 

 

 

-

 

 

 

-

 

Deferred compensation plan investments

 

 

31,274

 

 

 

31,274

 

 

 

-

 

 

 

-

 

Total Financial Assets

 

$

140,991

 

 

$

140,991

 

 

$

-

 

 

$

-

 

Financial Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration arrangements

 

$

(217,200

)

 

$

-

 

 

$

-

 

 

$

(217,200

)

Total Financial Liabilities

 

$

(217,200

)

 

$

-

 

 

$

-

 

 

$

(217,200

)

Summary of Contingent Consideration Arrangement Liabilities

(in thousands)

 

Contingent Consideration Liabilities

 

Balance, December 31, 2023

 

$

217,200

 

WestEnd earn-out payment

 

 

(80,000

)

WestEnd change in fair value measurement

 

 

12,200

 

Balance, March 31, 2024

 

$

149,400