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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 |  | As of December 31, 2021
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents | $ | 34,087 |  |  | $ | 34,087 |  |  | $ | — |  |  | $ | — |  |  | $ | 258,055 |  |  | $ | 258,055 |  |  | $ | — |  |  | $ | — |
Derivative financial instruments | 49,519 |  |  | — |  | 49,519 |  |  | — |  |  | 14,830 |  |  | — |  | 14,830 |  |  | — |
Total financial assets | $ | 83,606 |  |  | $ | 34,087 |  |  | $ | 49,519 |  |  | $ | — |  |  | $ | 272,885 |  |  | $ | 258,055 |  |  | $ | 14,830 |  |  | $ | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration | $ | 18,925 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,925 |  |  | $ | 11,170 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,170 |
Derivative financial instruments | — |  |  | — |  |  | — |  |  | — |  |  | 1,937 |  |  | — |  |  | 1,937 |  |  | — |
Total financial liabilities | $ | 18,925 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,925 |  |  | $ | 13,107 |  |  | $ | — |  |  | $ | 1,937 |  |  | $ | 11,170 |
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, 2022 | $ | 11,170 |
Preliminary purchase price | 16,410 |
Fair value adjustments | (946) |
Accretion in value | 324 |
Amounts cancelled | (42) |
Settlement Adjustments | (505) |
Amounts paid to sellers | (7,486) |
Contingent consideration liability - June 30, 2022 | $ | 18,925 |
Summary of Carrying Values and Associated Fair Values of Financial Assets and Liabilities | To estimate the fair value of our investments and Senior Notes, we utilized third-party quotes which are derived all or in part from model prices, external sources or market prices. The investments and Senior Notes represent a Level 2 fair value measurement and are as follows (in thousands):
| As of June 30, 2022 |  | As of December 31, 2021
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Investments | $ | 94,865 |  |  | $ | 94,786 |  |  | $ | — |  |  | $ | — |
Senior Notes(1) | 300,000 |  |  | 266,589 |  |  | 300,000 |  |  | 311,028 |
(1)Excludes the impact of unamortized debt issuance costs.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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