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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Carrying and Estimated Fair Value of Other Financial Instruments

The following table presents the carrying amounts and estimated fair values of our financial instruments by hierarchy level as of December 31, 2020 and 2019:

			December 31, 2020
									Hierarchy Level (Fair Value)
			Carrying Amount						Level 1						Level 2						Level 3
Liabilities
Acquisition-related contingent consideration, including current portion (1)(2)			$	20,118					$	—					$	—					$	20,118
2023 Convertible Notes (3)			286,131						—						396,982						—
Total			$	306,249					$	—					$	396,982					$	20,118

			December 31, 2019
									Hierarchy Level (Fair Value)
			Carrying Amount						Level 1						Level 2						Level 3
Liabilities
Acquisition-related contingent consideration, including current portion (1)			$	14,826					$	—					$	—					$	14,826
2023 Convertible Notes (3)			275,609						—						398,016						—
Total			$	290,435					$	—					$	398,016					$	14,826

(1)The short-term portion is included in “Accounts payable, accrued expenses and other,” and the long-term portion is included in “Other liabilities” on the Consolidated Balance Sheets.  

(2)During the year ended December 31, 2020, we acquired a strategy consulting and investment banking business that was assigned to the Corporate Finance segment and recorded an acquisition-related contingent consideration liability.

(3)The carrying values include unamortized deferred debt issue costs and debt discount.

Schedule of Acquisition-Related Contingent Consideration

The change in our liability for acquisition-related contingent consideration for our Level 3 financial instruments is as follows:

			Contingent Consideration
Balance at December 31, 2017			$	3,750
Accretion expense (1)			479
Payments			(531)
Balance at December 31, 2018			$	3,698
Additions (2)			9,746
Accretion expense (1)			2,372
Payments			(1,000)
Foreign currency translation adjustment (3)			10
Balance at December 31, 2019			$	14,826
Additions (2)			3,460
Accretion expense (1)			5,593
Payments			(4,692)
Foreign currency translation adjustment (3)			931
Balance at December 31, 2020			$	20,118

(1)Accretion expense is included in "Selling, general and administrative expenses" on the Consolidated Statements of Comprehensive Income.

(2)During the years ended December 31, 2020 and 2019, we acquired businesses that were assigned to the Corporate Finance segment.

(3)Foreign currency translation adjustments are included in "Other comprehensive income (loss), net of tax" on the Consolidated Statements of Comprehensive Income.

X

- 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 http://asc.fasb.org/extlink&oid=121572278&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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