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Fair Value Measurement (Tables) | 12 Months Ended
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Dec. 31, 2023
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 as of December 31, 2022. There were no assets or liabilities measured on a recurring basis as of December 31, 2023.
| Fair Value Measurements at December 31, 2022
(in thousands) | Carrying Value |  | Level 1 |  | Level 2 |  | Level 3
Liabilities: |  |  |  |  |  |  |
Put option of noncontrolling shareholders (1) | $ | (142) |  |  | $ | — |  |  | $ | — |  |  | $ | (142) |
Contingent consideration - acquisition (2) | $ | (1,300) |  |  | $ | — |  |  | $ | — |  |  | $ | (1,300) |
Total recorded at fair value | $ | (1,442) |  |  | $ | — |  |  | $ | — |  |  | $ | (1,442) |
(1)Represents a put option issued to a noncontrolling shareholder in connection with the 5.11 acquisition. The put option was terminated during the period ended March 31, 2023. (2)Represented a potential earn-out payable as additional purchase price consideration by Velocity in connection with the acquisition of King's Camo. The payment of the earn-out occurred during the second quarter of 2023.
Reconciliations of Change in Carrying Value of Level 3 Supplemental Put Liability | A reconciliation of the change in the carrying value of the Company’s Level 3 fair value measurements is as follows:
| Year ended December 31,
(in thousands) | 2023 |  | 2022
Balance at January 1st | $ | (1,442) |  |  | $ | (1,501) |
Termination of put option of noncontrolling shareholder- 5.11 | 142 |  |  | — |
Contingent consideration - King's Camo | — |  |  | (1,600) |
Adjustment to contingent consideration - King's Camo | 25 |  |  | 300 |
Payment of contingent consideration - Polyfoam | — |  |  | 1,350 |
Payment of contingent consideration - Kings's Camo | 1,275 |  |  | — |
Increase in the fair value of put option of noncontrolling shareholder - 5.11 | — |  |  | 9 |
Balance at December 31st | $ | — |  |  | $ | (1,442) |
Summary of Assets and Liabilities Carried at Fair Value Measured on Non-recurring Basis | The following table provides the assets and liabilities carried at fair value measured on a non-recurring basis as of December 31, 2023 and December 31, 2022. Refer to "Note H – Goodwill and Intangible Assets", for a description of the valuation techniques used to determine fair value of the assets measured on a non-recurring basis in the tables below. There were no assets and liabilities carried at fair value measured on a non-recurring basis as of December 31, 2021.
|  |  |  |  |  |  |  |  | Expense
| Fair Value Measurements at December 31, 2023 |  | Year ended
(in thousands) | Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | December 31, 2023
Goodwill - Velocity | $ | 8,183 |  |  | — |  |  | — |  |  | $ | 8,183 |  |  | $ | 31,590 |
Goodwill - PrimaLoft | $ | 232,536 |  |  | — |  |  | — |  |  | $ | 232,536 |  |  | $ | 57,810 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -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 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 -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
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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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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
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