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FAIR VALUE MEASUREMENTS
3 Months Ended
Mar. 31, 2021
FAIR VALUE MEASUREMENTS  
FAIR VALUE MEASUREMENTS

NOTE 6.     FAIR VALUE MEASUREMENTS

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis.

March 31, 2021

Description

Balance Sheet Classification

Level 1

Level 2

Level 3

Total
Fair
 Value

Assets:

   

   

   

   

   

Certificates of deposit

Marketable securities

$

$

2,854

$

$

2,854

Foreign currency forward contracts

Other current assets

21

21

Total assets measured at fair value on a recurring basis

$

$

2,875

$

$

2,875

Liabilities:

Contingent consideration

Other current liabilities

$

$

$

2,125

$

2,125

Contingent consideration

Other long-term liabilities

2,911

2,911

Interest rate swaps

Other long-term liabilities

169

169

Total liabilities measured at fair value on a recurring basis

$

$

169

$

5,036

$

5,205

December 31, 2020

Description

Balance Sheet Classification

Level 1

  

Level 2

  

Level 3

  

Total
Fair
 Value

Assets:

   

   

   

   

   

Certificates of deposit

Marketable securities

$

$

2,654

$

$

2,654

Total assets measured at fair value on a recurring basis

$

$

2,654

$

$

2,654

Liabilities:

Contingent consideration

Other current liabilities

$

$

$

2,009

$

2,009

Contingent consideration

Other long-term liabilities

2,940

2,940

Interest rate swaps

Other long-term liabilities

2,811

2,811

Total liabilities measured at fair value on a recurring basis

$

$

2,811

$

4,949

$

7,760

The fair value of foreign currency forward contracts is based on the movement in the forward rates of foreign currency cash flows in which the hedging instrument is denominated. We determine the fair value of interest rate swaps by estimating the net present value of the expected cash flows based on market rates and associated yield curves, adjusted for non-performance credit risk, as applicable. See Note 7. Derivative Financial Instruments for additional information. The fair value of contingent consideration is determined by estimating the net present value of the expected cash flows based on the probability of expected payment.

For all periods presented, there were no transfers into or out of Level 3.