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Fair Value Measurement (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities | The Company’s financial assets and liabilities subject to fair value measurements, as of December 31, 2021 and 2020 were as follows:
|  | As of December 31, 2021 |  | As of December 31, 2020
(in thousands) |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts |  | $ | 494 |  |  | $ | — |  |  | $ | 494 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total assets |  | $ | 494 |  |  | $ | — |  |  | $ | 494 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 6,960 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,960 |  |  | $ | 207 |  |  | $ | — |  |  | $ | — |  |  | $ | 207 |
Forward contracts |  | 46 |  |  | — |  |  | 46 |  |  | — |  |  | 997 |  |  | — |  |  | 997 |  | — |
Total liabilities |  | $ | 7,006 |  |  | $ | — |  |  | $ | 46 |  |  | $ | 6,960 |  |  | $ | 1,204 |  |  | $ | — |  |  | $ | 997 |  |  | $ | 207 |
The Company's level 3 balance consists of contingent consideration related to acquisitions. The changes in the Company's level 3 liabilities for the years ended December 31, 2021 and 2020 were as follows:
(in thousands) | Balance at Beginning of the Year |  |  |  | Adjustments(1)(2) |  | Transfer out of Level 3(3) |  | Balance at End of the Year(4)
2021: |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Contingent consideration | $ | 207 |  |  |  |  | 11,862 |  |  | (5,109) |  |  | $ | 6,960 |
2020: |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Contingent consideration | $ | 9,124 |  |  |  |  | (8,917) |  |  | — |  |  | $ | 207 |

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- Definition 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 + Details
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