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Fair Value Measures and Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables provide a reconciliation of the Level 3 earn-out liabilities measured at estimated fair value (in thousands):
|  | Earn-out Liability
Accrued balance, January 1, 2021 |  | $ | 26,300 |
Change in fair value of earn-out (included in income from operations as a separate line item) |  | — |
Accrued balance, March 31, 2021 |  | $ | 26,300 |
Change in fair value of earn-out (included in income from operations as a separate line item) |  | — |
Accrued balance, June 30, 2021 |  | $ | 26,300 |
Contingent earn-out - non-compete arrangement |  | 3,100 |
Transfer of Pursuit earn-out liability into Level 2 |  | (26,300) |
Accrued balance, September 30, 2021 |  | $ | 3,100 |
|  | Earn-out Liability
Accrued balance, January 1, 2020 |  | $ | 17,300 |
Change in fair value of earn-out (included in income from operations as a separate line item) |  | — |
Accrued balance, March 31, 2020 |  | $ | 17,300 |
Change in fair value of earn-out (included in income from operations as a separate line item) |  | 2,700 |
Accrued balance, June 30, 2020 |  | $ | 20,000 |
Change in fair value of earn-out (included in income from operations as a separate line item) |  | 4,300 |
Accrued balance, September 30, 2020 |  | $ | 24,300 |
Fair Value Measurement Inputs and Valuation Techniques | The following tables provide quantitative information about Level 3 inputs for fair value measurement of our earn-out liabilities during the earn-out measurement period: Pursuit Earn-out
Simulation Input |  | As of December 31, 2020 |  | As of September 30, 2020
Revenue/Gross Profit Volatility |  | 25.00 | % |  | 35.00 | %
Discount Rate |  | 12.50 | % |  | 12.50 | %
Risk Free Rate |  | 0.09 | % |  | 0.12 | %
Counter Party Risk |  | 3.10 | % |  | 4.50 | %
Fair Value, by Balance Sheet Grouping | Our assets and liabilities measured at fair value on a recurring basis consisted of the following Level 1, 2 and 3 inputs as defined above (in thousands):
| Fair value measurements at September 30, 2021
| Total carrying value |  | Quoted prices in active markets for identical assets (level 1) |  | Significant other observable inputs (level 2) |  | Significant unobservable inputs (level 3)
Assets: |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |
Short-term | $ | 18,009 |  |  | $ | — |  |  | $ | 18,009 |  |  | $ | — |
Long-term | 7,172 |  |  | — |  |  | 7,172 |  |  | — |
Foreign exchange forwards: |  |  |  |  |  |  |
Prepaid expenses and other current assets | 772 |  |  | — |  |  | 772 |  |  | — |
Total Assets | $ | 25,953 |  |  | $ | — |  |  | $ | 25,953 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Earn-out liability | $ | 29,400 |  |  | $ | — |  |  | $ | 26,300 |  |  | $ | 3,100 |
Total Liabilities | $ | 29,400 |  |  | $ | — |  |  | $ | 26,300 |  |  | $ | 3,100 |
| Fair value measurements at December 31, 2020
| Total carrying value |  | Quoted prices in active markets for identical assets (level 1) |  | Significant other observable inputs (level 2) |  | Significant unobservable inputs (level 3)
Assets: |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |
Short-term | $ | 14,687 |  |  | $ | — |  |  | $ | 14,687 |  |  | $ | — |
Long-term | 12,974 |  |  | — |  |  | 12,974 |  |  | — |
Foreign exchange forwards: |  |  |  |  |  |  |
Prepaid expenses and other current assets | 3,555 |  |  | — |  |  | 3,555 |  |  | — |
Total Assets | $ | 31,216 |  |  | $ | — |  |  | $ | 31,216 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Earn-out liability | $ | 26,300 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,300 |
Total Liabilities | $ | 26,300 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,300 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + 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 (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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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 http://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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
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