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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Changes in Fair Value by Balance Sheet Grouping

The following table presents the input level used to determine the fair values of our financial instruments measured at fair value on a recurring basis:

									Fair Value as of December 31,
			Level						2023						2022
Assets
Interest rate swap instruments			2						$	3,970					$	5,202
Liabilities
Interest rate swap instruments			2						$	629					$	9
Make-whole provisions			2						6,012						5,348
Contingent consideration			3						1,465						4,158
Total liabilities									$	8,106					$	9,515

Subsequent Key Assumptions

The balances and subsequent key assumptions used in the model were as follows:

						At December 31,
						2023						2022
Balance of remaining contingent consideration						$	1,465					$	3,800
Risk-adjusted discount rate						16.9		%				16.9		%
Estimated EBITDA volatility						70.0		%				75.0		%

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of changes in the fair value of contingent consideration liabilities classified as level 3:

			Year Ended December 31,
			2023						2022
Contingent consideration liabilities balance at the beginning of year			$	4,158					$	2,838
Remeasurement period adjustment			—						(19)
Changes in fair value included in earnings			347						1,614
Payment of contingent consideration			(3,040)						(275)
Contingent consideration liabilities balance at the end of year			$	1,465					$	4,158

Fair Value and Carrying Value of Long-Term Debt

The following table sets forth the fair value and the carrying value of our long-term debt, excluding financing leases:

			December 31, 2023												December 31, 2022
			Fair Value						Carrying Value						Fair Value						Carrying Value
Long-term debt value (level 2)			$	1,466,458					$	1,478,394					$	869,771					$	884,054

X

- 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.

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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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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.

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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.

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