Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.2
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2020
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 September 30, 2020 and December 31, 2019 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 September 30, 2020 Fair Value December 31, 2019
Non-COLI assets held in Deferred Supplemental Compensation Plan Other assets Level 1 $ 1,056  $ 710 
Interest rate swap agreements Accrued expenses Level 2 $ 2,224  $ 1,473 
Earn-out obligation - short-term Current portion of earn-out obligation Level 3 $ 1,905  $ 31,700 
Earn-out obligation - long-term Earn-out obligation Level 3 $ —  $ 5,000 
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 nine months ended September 30, 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)
Fair value adjustment included in costs and operating expenses (3,095) —  (3,095)
Reclassification from long-term to current 5,000  (5,000) — 
Balance as of September 30, 2020 $ 1,905  $ —  $ 1,905 
Fair Value Measurements on a Non-recurring Basis
The following table presents changes in the Level 3 fair value of certain assets measured on a non-recurring basis for the nine months ended September 30, 2020 (in thousands):
  Goodwill
Assets subject to impairment charges
Carrying value prior to impairment $ 174,998 
Impairment charge (30,945)
Carrying value after impairment 144,053 
Carrying value of assets not subject to impairment charge 94,073 
Balance as of September 30, 2020 $ 238,126