XML 138 R48.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Fair Value Measurements of Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2023 are presented below (in thousands):
| Fair Value Measurements |  |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |
Money market accounts* | $ | 4,842 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,842 |  |
Marketable securities – certificates of deposit | 2,150 |  |  | — |  |  | — |  |  | 2,150 |  |
Marketable securities – equity securities | 348 |  |  | — |  |  | — |  |  | 348 |  |
Total assets | $ | 7,340 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,340 |  |
Liabilities |  |  |  |  |  |  |  |
AAMG contingent consideration | $ | — |  |  | $ | — |  |  | $ | 5,475 |  |  | $ | 5,475 |  |
VOMG contingent consideration | — |  |  | — |  |  | 17 |  |  | 17 |  |
DMG remaining equity interest purchase | — |  |  | — |  |  | 8,542 |  |  | 8,542 |  |
Sun Labs remaining equity interest purchase | — |  |  | — |  |  | 7,802 |  |  | 7,802 |  |
Interest rate collar | — |  |  | 252 |  |  | — |  |  | 252 |  |
Total liabilities | $ | — |  |  | $ | 252 |  |  | $ | 21,836 |  |  | $ | 22,088 |  |
* Included in cash and cash equivalents The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2022 are presented below (in thousands):
|  | Fair Value Measurements |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |
Money market accounts* |  | $ | 135,235 |  |  | $ | — |  |  | $ | — |  |  | $ | 135,235 |
Marketable securities – equity securities |  | 5,567 |  |  | — |  |  | — |  |  | 5,567 |
Contingent equity securities |  | — |  |  | — |  |  | 1,900 |  |  | 1,900 |
Interest rate swaps |  | — |  |  | 3,164 |  |  | — |  |  | 3,164 |
Total assets |  | $ | 140,802 |  |  | $ | 3,164 |  |  | $ | 1,900 |  |  | $ | 145,866 |
Liabilities |  |  |  |  |  |  |  |
APCMG contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | 1,000 |  |  | $ | 1,000 |
AAMG contingent consideration |  | — |  |  | — |  |  | 5,851 |  |  | 5,851 |
VOMG contingent consideration |  | — |  |  | — |  |  | 17 |  |  | 17 |
DMG remaining equity interest purchase |  | — |  |  | — |  |  | 8,542 |  |  | 8,542 |
Sun Labs remaining equity interest purchase |  | — |  |  | — |  |  | 5,849 |  |  | 5,849 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 21,259 |  |  | $ | 21,259 |
* Included in cash and cash equivalents
Schedule of Change in Fair Value of Level 3 Liabilities | The change in the fair value of existing Level 3 liabilities is recognized in unrealized loss on investments and general and administrative expenses in the accompanying consolidated statements of income. As of December 31, 2023, the reconciliation of our Level 3 liabilities was as follows (in thousands):
| Amount
Balance at January 1, 2023 | $ | 21,259 |
Change in fair value of existing Level 3 liabilities | 1,577 |
APCMG contingent consideration paid | (1,000) |
Balance at December 31, 2023 | $ | 21,836 |
Schedule of Gain (Loss) on Equity Securities | The components comprising total gains and losses on equity securities are as follows (in thousands) for the periods listed below:
|  |  | Twelve Months Ended December 31,
|  |  |  |  | 2023 |  | 2022
Total losses recognized on equity securities |  |  |  |  | $ | (6,629) |  |  | $ | (19,169) |
Less (loss) gains recognized on equity securities sold |  |  |  |  | (4,052) |  |  | 2,272 |
Unrealized losses recognized on equity securities held at end of period |  |  |  |  | $ | (2,577) |  |  | $ | (21,441) |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(7)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(9)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration