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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019 and the level they fall within the fair value hierarchy (in thousands):

Amounts Recorded at Fair Value						Financial Statement Classification						Fair Value Hierarchy						Fair Value September 30, 2020						Fair Value December 31, 2019
Non-COLI assets held in Deferred Supplemental Compensation Plan						Other assets						Level 1						$	1,056					$	710
Interest rate swap agreements						Accrued expenses						Level 2						$	2,224					$	1,473
Earn-out obligation - short-term						Current portion of earn-out obligation						Level 3						$	1,905					$	31,700
Earn-out obligation - long-term						Earn-out obligation						Level 3						$	—					$	5,000

Fair Value Measured on a Recurring Basis

Changes in earn-out obligation measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2020 are as follows (in thousands):

						Current portion						Long-term portion						Total
Balance as of December 31, 2019						$	31,700					$	5,000					$	36,700
Earn-out payments						(31,700)						—						(31,700)
Fair value adjustment included in costs and operating expenses						(3,095)						—						(3,095)
Reclassification from long-term to current						5,000						(5,000)						—
Balance as of September 30, 2020						$	1,905					$	—					$	1,905

Fair Value Measurements on a Non-recurring Basis

The following table presents changes in the Level 3 fair value of certain assets measured on a non-recurring basis for the nine months ended September 30, 2020 (in thousands):

						Goodwill
Assets subject to impairment charges
Carrying value prior to impairment						$	174,998
Impairment charge						(30,945)
Carrying value after impairment						144,053
Carrying value of assets not subject to impairment charge						94,073
Balance as of September 30, 2020						$	238,126

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ 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 (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
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