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Fair Value of Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Summary of financial assets and liabilities measured at fair value on a recurring basis | The following table presents the valuation of the Company’s financial assets and liabilities as of March 31, 2023 and December 31, 2022 measured at fair value on a recurring basis. The fair value estimates presented herein are based on information available to management as of March 31, 2023 and December 31, 2022. These estimates are not necessarily indicative of the amounts the Company could ultimately realize.
(in thousands) |  | Level 1 |  | Level 2 |  | Level 3
March 31, 2023 |  |  |  |  |  |
Assets |  |  |  |  |  |
Interest rate swap agreements-short term |  | — |  | 5,193 |  | —
Interest rate swap agreements-long term |  | — |  | 1,105 |  | —
Total assets measured at fair value |  | $ | — |  | $ | 6,298 |  | $ | —
Liabilities |  |  |  |  |  |
Acquisition-related contingent consideration-short term |  | $ | — |  | $ | — |  | $ | 7,500
Warrant liability |  | — |  | — |  | 16,589
Total liabilities measured at fair value |  | $ | — |  | $ | — |  | $ | 24,089
(in thousands) |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2022 |  |  |  |  |  |
Assets |  |  |  |  |  |
Interest rate swap agreements-short term |  | $ | — |  |  | $ | 5,748 |  |  | $ | — |
Interest rate swap agreements-long term |  | $ | — |  |  | $ | 3,728 |  |  | —
Total assets measured at fair value |  | $ | — |  |  | $ | 9,476 |  |  | $ | — |
Liabilities |  |  |  |  |  |
Acquisition-related contingent consideration-short term |  | $ | — |  |  | $ | — |  |  | $ | 7,500 |
Warrant liability |  | — |  | — |  | 38,503
Total liabilities measured at fair value |  | $ | — |  |  | $ | — |  |  | $ | 46,003 |
Reconciliation of contingent consideration liabilities | A reconciliation of the Company’s contingent consideration liabilities related to acquisitions for the three months ended March 31, 2023 and 2022 is as follows (in thousands):
Three Months Ended March 31, 2023 | Beginning Balance |  | Payments |  | Ending Balance
Contingent consideration - Level 3 liabilities | $ | 7,500 |  |  | $ | — |  |  | $ | 7,500 |
Three Months Ended March 31, 2022 |  |  |  |  |
Contingent consideration - Level 3 liabilities | $ | 20,300 |  |  | $ | (2,250) |  |  | $ | 18,050 |

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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