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Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following table provides the assets and liabilities carried at fair value measured on a recurring basis at September 30, 2022 and December 31, 2021 (in thousands):

			Fair Value Measurements at September 30, 2022
			Carrying Value						Level 1						Level 2						Level 3
Liabilities:
Put option of noncontrolling shareholders (1)			$	(142)					$	—					$	—					$	(142)
Contingent consideration - acquisition (2)			(1,600)						—						—						(1,600)
Total recorded at fair value			$	(1,742)					$	—					$	—					$	(1,742)

(1)Represents put option issued to noncontrolling shareholders in connection with the 5.11 acquisition.

(2)     Represents potential earn-out payable as additional purchase price consideration by Velocity in connection with an acquisition.

			Fair Value Measurements at December 31, 2021
			Carrying Value						Level 1						Level 2						Level 3
Liabilities:
Put option of noncontrolling shareholders (1)			$	(151)					$	—					$	—					$	(151)
Contingent consideration - acquisition (2)			(1,350)						—						—						(1,350)
Total recorded at fair value			$	(1,501)					$	—					$	—					$	(1,501)

Reconciliations of Change in Carrying Value of Level 3 Fair Value Measurements

Reconciliations of the change in the carrying value of the Level 3 fair value measurements from January 1, 2021 through September 30, 2022 are as follows (in thousands):

			Level 3
Balance at January 1, 2021			$	(1,785)
Termination of put option of noncontrolling shareholder - Liberty			314
Increase in the fair value of put option of noncontrolling shareholder - 5.11			(30)
Balance at December 31, 2021			$	(1,501)
Decrease in the fair value of put option of noncontrolling shareholder - 5.11			9
Payment of contingent consideration - Polyfoam			1,350
Contingent consideration - Velocity acquisition			(1,600)
Balance at September 30, 2022			$	(1,742)

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- References

No definition available.

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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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

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