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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of changes in the earn-out, Level 3

The following table presents the changes in the Level 3 earn-out for the three and nine months ended September 30, 2020:

Balance at December 31, 2019			$	11,100
Payment of earn-out liability (1)			(8,000)
Revaluations included in earnings			380
Balance at March 31, 2020			$	3,480
Payment of earn-out liability			—
Revaluations included in earnings			130
Balance at June 30, 2020			$	3,610
Payment of earn-out liability			—
Revaluations included in earnings			91
Balance at September 30, 2020			$	3,701
(1) See Note 22 - Commitments and Contingencies for further details.

As of September 30, 2021, no earn-outs are outstanding.

The following table summarizes the changes in Private Placement Warrant liability for the three and nine months ended September 30, 2021 and 2020:

Balance at December 31, 2020			$	312,751
Mark to market adjustment on financial instruments			(51,215)
Exercise of Private Placement Warrants			(3,592)
Balance at March 31, 2021			$	257,944
Mark to market adjustment on financial instruments			21,021
Exercise of Private Warrants			—
Balance at June 30, 2021			$	278,965
Mark to market adjustment on financial instruments			(83,013)
Exercise of Private Warrants			—
Balance at September 30, 2021			$	195,952
Balance at December 31, 2019			$	111,813
Mark to market adjustment on financial instruments			55,632
Exercise of Private Placement Warrants			—
Balance at March 31, 2020			$	167,445
Mark to market adjustment on financial instruments			23,790
Exercise of Private Warrants			—
Balance at June 30, 2020			$	191,235
Mark to market adjustment on financial instruments			144,753
Exercise of Private Warrants			—
Balance at September 30, 2020			$	335,988

Summary of the Company's assets and liabilities that were recognized at fair value on a recurring basis

The following table provides a summary of the Company’s assets and liabilities that were recognized at fair value on a recurring basis as at September 30, 2021 and December 31, 2020:

			September 30, 2021
			Level 1						Level 2						Level 3						Total Fair Value
Assets
Forward contracts asset			$	—					$	15					$	—					$	15
Employee phantom share receivable asset			—						148,334						—						148,334
			—						148,349						—						148,349
Liabilities
Warrant liability			—						—						195,952						195,952
Employee phantom share liability - current			—						147,744						—						147,744
Employee phantom share liability - non-current			—						14,234						—						14,234
Forward contracts liability			—						4,626						—						4,626
Interest rate swap liability			—						2,651						—						2,651
Total			$	—					$	169,255					$	195,952					$	365,207

			December 31, 2020
			Level 1						Level 2						Level 3						Total Fair Value
Assets
Forward contracts asset			$	—					$	8,574					$	—					$	8,574
Employee phantom share receivable asset			—						188,770						—						188,770
			—						197,344						—						197,344
Liabilities
Warrant liability			—						—						312,751						312,751
Employee phantom share liability - current			—						193,162						—						193,162
Employee phantom share liability - non-current			—						18,670						—						18,670
Forward contracts liability			—						106						—						106
Interest rate swap liability			—						5,159						—						5,159
Contingent stock liability			—						130,594						—						130,594
Total			$	—					$	347,691					$	312,751					$	660,442

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- References

No definition available.

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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
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-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

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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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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