Fair Value and Equity Investments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value and Equity Investments [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (U.S. dollars in thousands):

	Fair Value at March 31, 2024
	Level 1		Level 2		Level 3		Total
Financial assets (liabilities):
Cash equivalents and current investments	$	34,571	$	—	$	—	$	34,571
Derivative financial instruments asset		—		12,054		—		12,054
Life insurance contracts		—		—		48,414		48,414
Contingent consideration		—		—		—		—
Total	$	34,571	$	12,054	$	48,414	$	95,039

	Fair Value at December 31, 2023
	Level 1		Level 2		Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	42,916	$	—	$	—		$	42,916
Derivative financial instruments asset		—		12,689		—			12,689
Life insurance contracts		—		—		45,041			45,041
Contingent consideration		—		—		(6,300	)		(6,300	)
Total	$	42,916	$	12,689	$	38,741		$	94,346

Changes in Fair Value of Level 3 Life Insurance Contracts

The following table provides a summary of changes in fair value of the Company’s Level 3 life insurance contracts (U.S. dollars in thousands):

	2024		2023
Beginning balance at January 1	$	45,041	$	40,055
Actual return on plan assets		3,373		1,998
Ending balance at March 31	$	48,414	$	42,053

Changes in Fair Value of Level 3 Contingent Consideration

The following table provides a summary of changes in fair value of the Company’s Level 3 contingent consideration (U.S. dollars in thousands):

	2024			2023
Beginning balance at January 1	$	(6,300	)	$	(6,364	)
Changes in fair value of contingent consideration		—			93
Payments		6,300			—
Ending balance at March 31	$	—		$	(6,271	)