Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements (Tables)

v3.25.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities and Earn-Out Receivable
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis and the level they fall within the fair value hierarchy (in thousands):
Amounts Recorded at Fair Value Financial Statement Classification Fair Value Hierarchy Fair Value September 30, 2025 Fair Value December 31, 2024
Non-COLI assets held in Deferred Supplemental Compensation Plan(a)
Other assets Level 1 $ 691  $ 629 
Interest rate swaps - current Accrued expenses and other current liabilities Level 2 $ 686  $ — 
Interest rate swaps - long-term Other assets Level 2 $ 1,592  $ 4,093 
(a) Non-Company Owned Life Insurance ("COLI") assets held in the Company's deferred supplemental compensation plan consist of equity funds with fair value based on observable inputs such as quoted prices for identical assets in active markets and changes in fair value are recorded as selling, general and administrative expenses.
The following table presents the changes in the fair value of the earn-out receivable:
Earn-out Receivable
Balance as of December 31, 2024 $ — 
Sale date fair value of earn-out 29,200 
Subsequent fair value adjustments (a)
(29,200)
Balance as of September 30, 2025 $ — 
(a) The adjustment recognized during the second quarter of 2025 was initially classified within selling, general and administrative expenses within the consolidated statement of operations. During the third quarter of 2025, the adjustments were reclassified and separately disclosed to earn-out receivable fair value adjustments within the consolidated statements of operations.