Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.22.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value of Assets and Liabilities
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and December 31, 2020 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 December 31, 2021 Fair Value December 31, 2020
Non-COLI assets held in Deferred Supplemental Compensation Plan Other assets Level 1 $ 598  $ 1,120 
Interest rate swaps Accrued expenses Level 2 $ 234  $ 1,603 
Earn-out obligation-current Accrued expenses Level 3 $ 1,000  $ — 
Earn-out obligation-long-term Other long-term liabilities Level 3 $ 250  $ — 
Fair Value Measured on a Recurring Basis
Changes in earn-out obligation measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2021 and 2020 are as follows (in thousands):
  Current portion Long-term portion Total
Balance as of December 31, 2019 $ 31,700  $ 5,000  $ 36,700 
Earn-out payments (31,700) —  (31,700)
Reclassification from long-term to current 5,000  (5,000) — 
Fair value adjustment included in costs and operating expenses (5,000) —  (5,000)
Balance as of December 31, 2020 —  —  — 
Acquisition date fair value of contingent consideration 1,750  250  2,000 
Earn-out payments (750) —  (750)
Balance as of December 31, 2021 $ 1,000  $ 250  $ 1,250