Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes our assets and (liabilities) at December 31, 2023 and 2022 that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value (in thousands):


	Level	December 31, 2023	December 31, 2022
Deferred compensation plan assets	1	143,499	118,862
Available-for-sale debt securities	1	39,459	43,485
Other depository assets	1	1,031	868
Deferred compensation plan liabilities	1	(143,499)	(118,862)
Interest rate swaps, net	2	3,999	7,809
Bank debt	2	(310,826)	(263,654)
Contingent purchase price liabilities	3	(114,946)	(132,010)

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

The following table summarizes the change in fair value of our contingent purchase price liabilities identified as Level 3 for the years ended December 31, 2023 and 2022 (pre-tax basis, in thousands):


	Contingent Purchase Price Liabilities
Beginning balance — December 31, 2021	$	(79,139)
Additions from business acquisitions	(74,199)
Settlement of contingent purchase price payable	23,763
Change in fair value of contingency	662
Change in net present value of contingency	(3,097)
Balance — December 31, 2022	$	(132,010)
Additions from business acquisitions	(32,142)
Settlement of contingent purchase price payable	51,949
Change in fair value of contingency	62
Change in net present value of contingency	(2,805)
Balance — December 31, 2023	$	(114,946)