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FAIR VALUE (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of fair values of financial assets and liabilities | As of September 30, 2023, the fair values of our financial assets and liabilities were categorized as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Investment in equity securities (1) | $ | 1,532 |  |  | $ | 1,532 |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts (2) | 377 |  |  | — |  |  | 377 |  |  | — |
Convertible notes | 5,650 |  |  | — |  |  | — |  |  | 5,650 |
Total assets at fair value | $ | 7,559 |  |  | $ | 1,532 |  |  | $ | 377 |  |  | $ | 5,650 |
Liabilities |  |  |  |  |  |  |
Foreign exchange contracts (2) | $ | 305 |  |  | $ | — |  |  | $ | 305 |  |  | $ | — |
Cross currency swap contract (2) | 12,049 |  |  | — |  |  | 12,049 |  |  | — |
Total liabilities at fair value | $ | 12,354 |  |  | $ | — |  |  | $ | 12,354 |  |  | $ | — |
As of December 31, 2022, the fair values of our financial assets and liabilities were categorized as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Investment in equity securities (1) | $ | 5,297 |  |  | $ | 5,297 |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts (2) | 1,107 |  |  | — |  |  | 1,107 |  |  | — |
Convertible note | 5,650 |  |  | — |  |  | — |  |  | 5,650 |
Total assets at fair value | $ | 12,054 |  |  | $ | 5,297 |  |  | $ | 1,107 |  |  | $ | 5,650 |
Liabilities |  |  |  |  |  |  |
Foreign exchange contracts (2) | $ | 269 |  |  | $ | — |  |  | $ | 269 |  |  | $ | — |
Cross currency swap contract (2) | 8,840 |  |  | — |  |  | 8,840 |  |  | — |
Contingent consideration obligation | 25,310 |  |  | — |  |  | — |  |  | 25,310 |
Total liabilities at fair value | $ | 34,419 |  |  | $ | — |  |  | $ | 9,109 |  |  | $ | 25,310 |
________________________________________________ (1)Investment in PureCycle Technologies ("PCT" or "PureCycle"). See Note 18 – Investment in Equity Securities for discussion of this investment. (2)Market approach valuation technique based on observable market transactions of spot and forward rates.
Schedule of contingent consideration arrangements, fair value | We consider these obligations a Level 3 liability and estimated the aggregate fair value for these contingent consideration arrangements as follows:
| September 30, 2023 |  | December 31, 2022
Fusion Acquisition | $ | — |  |  | $ | 25,310 |
Noble Acquisition | — |  |  | — |
| $ | — |  |  | $ | 25,310 |
Summary of changes in Level 3 fair value measurements | The following table provides a summary of changes in our Level 3 fair value measurements:
Balance, December 31, 2022 | $ | 25,310 |
Increase in fair value recorded in earnings | — |
Payments | (25,310) |
Balance, September 30, 2023 | $ | — |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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