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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2020
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 June 30, 2020      As of December 31, 2019  
     Total      Level 1      Level 2      Level 3      Total      Level 1      Level 2      Level 3  
Financial assets:
                        
Cash equivalents
    $ 112,237      $ 112,237      $ —        $ —        $ 99,242      $ 99,242      $ —        $ —    
Financial liabilities:
                        
Derivative financial instruments
    $ 17,194      $ —        $ 17,194      $ —        $ 9,446      $ —        $ 9,446      $ —    
Contingent consideration
      2,221        —          —          2,221        3,854        —          —          3,854  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total financial liabilities
    $ 19,415      $ —        $ 17,194      $ 2,221      $ 13,300      $ —        $ 9,446      $ 3,854  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
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, 2020
    $ 3,854  
Preliminary purchase price
      1,000  
Fair value adjustments
      (200 ) 
Accretion in value
      200  
Amounts paid to sellers
      (2,633 ) 
  
 
 
  
Contingent consideration liability
 
-
June 30, 2020
    $ 2,221  
  
 
 
  
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 or market prices. Both represent a Level 2 fair value measurement and are as follows (in thousands):
 
     As of June 30, 2020      As of December 31, 2019  
     Carrying Value      Fair Value      Carrying Value      Fair Value  
Investments
    $ 16,688      $ 16,737      $ 37,961      $ 37,958  
Senior Notes
(1)
      300,000        304,635        300,000        321,114  
 
(1)
 
Excludes the impact of unamortized debt issuance costs.