Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

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

The table below presents the fair values of certain financial assets and liabilities that are measured at fair value on a recurring basis in the Company's financial statements (in thousands).

Description	June 30, 2024		December 31, 2023
Assets:
Values based on Level 1 inputs:
Deferred compensation plan assets (1)	$	13,766	$	10,290
Total Level 1 inputs	13,766		10,290
Values based on Level 2 inputs:
Deferred compensation plan assets (1)	122,865		104,555
Foreign currency forward contracts (2)	81		1,646
Interest rate swap contract (3)	7,935		7,059
Total Level 2 inputs	130,881		113,260
Total Assets	$	144,647	$	123,550
Liabilities:
Values based on Level 2 inputs:
Deferred compensation plan liabilities (1)	$	139,856	$	121,708
Foreign currency forward contracts (2)	264		1,466
Total Level 2 inputs	140,120		123,174
Total Liabilities	$	140,120	$	123,174

(1)The Company has a deferred compensation plan for the benefit of certain highly compensated officers, managers and other key employees. The assets consist of investments in money market funds, mutual funds and company-owned life insurance contracts, which are valued based on Level 1 or Level 2 inputs. The related deferred compensation plan liabilities are recorded at fair value, or the estimated amount needed to settle the liability, which the Company considers to be a Level 2 input.

(2)The Company enters into foreign currency forward exchange contracts to hedge the effects of adverse fluctuations in foreign currency exchange rates (see Note 11 — Derivatives and Hedging). Valuation of these contracts is based on observable foreign currency exchange rates in active markets, which the Company considers to be a Level 2 input.

(3)The Company has an interest rate swap contract that hedges the risk of variability from interest payments on its borrowings (see Note 8 — Debt). The fair value of the interest rate swap is based on mark-to-market valuations prepared by a third-party broker. This valuation is based on observable interest rates from recently executed market transactions and other observable market data, which the Company considers to be Level 2 inputs. The Company independently corroborates the reasonableness of the valuations prepared by the third-party broker by using an electronic quotation service.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The table below presents the carrying amounts (net of deferred financing costs) and fair values of financial instruments that are not recorded at fair value in the Company’s Condensed Consolidated Balance Sheets (in thousands). The estimated fair value of the financial instruments was derived from quoted market prices provided by an independent dealer, which the Company considers to be a Level 2 input.

	Carrying Amount				Fair Value
	June 30,		December 31,		June 30,		December 31,
Description	2024		2023		2024		2023
2028 Notes	$	794,685	$	794,088	$	770,264	$	759,040
2029 Notes	595,227		594,794		548,016		543,408
2030 Notes	793,635		793,189		716,816		709,600
Total	$	2,183,547	$	2,182,071	$	2,035,096	$	2,012,048