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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of Fair Values of Financial Assets and Liabilities The fair values of financial assets and liabilities that are recorded at fair value in the Condensed Consolidated Balance Sheets and not described above were as follows (in thousands):
 
As of September 30, 2019
   
As of December 31, 2018
 
  
Total
   
Level 1
   
Level 2
   
Level 3
   
Total
   
Level 1
   
Level 2
   
Level 3
 
Financial assets:
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Cash equivalents
  $
107,535
    $
107,535
    $
—  
     $
—  
     $
69,807
    $
69,807
    $
—  
     $
—  
  
Derivative financial instruments
   
—  
      
—  
      
—  
      
—  
      
1,765
     
—  
      
1,765
     
—  
  
                                                                 
Total financial assets
  $
107,535
    $
107,535
    $
—  
     $
—  
     $
 
 
71,572
    $
69,807
    $
1,765
    $
—  
  
                                                                 
Financial liabilities:
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Derivative financial instruments
  $
11,207
    $
—  
     $
11,207
    $
—  
     $
2,275
    $
—  
     $
2,275
    $
—  
  
Contingent consideration
   
3,724
     
—  
      
—  
      
3,724
     
5,098
     
—  
      
—  
      
5,098
 
                                                                 
Total financial liabilities
  $
 
 
14,931
    $
 
 
—  
     $
 
 
11,207
    $
 
 
3,724
    $
7,373
    $
 
 
—  
     $
 
 
2,275
    $
 
 
5,098
 
                                                                 
Summary of Change in Fair Value of Contingent Consideration
The change in fair value of the contingent consideration (a Level 3 input) was as follows (in thousands):
Contingent consideration liability - January 1, 2019
  $
5,098
 
Preliminary purchase price
   
2,275
 
Fair value adjustments
   
(410
 )
Accretion in value
   
434
 
Amounts paid to sellers
   
(371
 )
Amounts cancelled
   
(3,302
 )
         
Contingent consideration liability - September 30, 2019
  $
3,724
 
         
Summary of Carrying Values and Associated Fair Values of Financial Assets and Liabilities
The carrying values and associated fair values of financial assets and liabilities that are not recorded at fair value in the Condensed Consolidated Balance Sheets and not described above include our Senior Notes and investments. To estimate fair values of these items, we utilized third-party quotes which are derived all or in part from model prices, external sources, market prices, or the third-party’s internal records. Both represent a Level 2 fair value measurement and are as follows (in thousands):
 
As of September 30, 2019
   
As of December 31, 2018
 
  
Carrying Value
   
Fair Value
   
Carrying Value
   
Fair Value
 
Investments
  $
4,980
    $
4,983
    $
10,060
    $
 
 
10,053
 
Senior Notes
 
(1)
    
300,000
     
309,000
     
—  
      
—  
  
 
(1)
Excludes the impact of unamortized debt issuance costs.