Investments and Fair Value Measurements (Tables) |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Fair Value of Estimated Contingent Consideration |
The following table represents changes in the fair value of estimated contingent consideration for the year ended December 31, 2023, and the three and nine months ended September 30, 2024:
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| Category of Financial Instruments Not Held at Fair Value |
At September 30, 2024 and December 31, 2023, financial instruments that are not held at fair value are categorized in the table below:
(1)
Includes $1,548 and $1,487 of cash equivalents at September 30, 2024 and December 31, 2023, respectively, that fall under Level 1 in the fair value hierarchy.
(2)
Investments consist of the Company’s equity method investments in affiliated investment funds which have been established and managed by the Company and its affiliates. Fair value of investments is based on the net asset value of the affiliated investment funds which is a practical expedient for fair value, which is not included in the fair value hierarchy under GAAP.
(3)
The carrying value of borrowings under the revolving credit agreement approximates fair value, which is determined based on interest rates currently available to the Company for similar debt and the weighted average cost of capital of the Company.
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