XML 43 R31.htm IDEA: XBRL DOCUMENT
v3.22.0.1

FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of value assets and liabilities measured on recurring basis | The Company’s financial liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows:
|  | Fair Value Measured as of December 31, 2021 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Liabilities included in: |  |  |  |  |  |  |  |  |  |  |  |
Warrant liability (Public) |  | $ | 39,500 |  |  | $ | — |  |  | $ | — |  |  | $ | 39,500 |
Warrant liability (Private) |  |  | — |  |  |  | — |  |  |  | 21,793 |  |  |  | 21,793 |
Earn-out liability |  |  | — |  |  |  | — |  |  |  | 26,596 |  |  |  | 26,596 |
Total fair value |  | $ | 39,500 |  |  | $ | — |  |  | $ | 48,389 |  |  | $ | 87,889 |
Summary of Assumptions for Estimated Fair Value Using Monte Carlo Simulation Model | The fair value of private warrants was estimated as of December 31, 2021 using the Monte Carlo simulation model with the following assumptions:
Valuation date price |  | $ | 12.99 |
Strike price |  | $ | 11.50 |
Remaining life |  | 4.54 years |
Expected dividend |  | $ | — |
Risk-free interest rate |  |  | 1.19 | %
Price threshold |  | $ | 18.00 |
The fair value of the earn-out liability was estimated as of December 31, 2021 using the Monte Carlo simulation model with the following assumptions:
Valuation date price |  | $ | 12.99 |
Expected term |  | 6.54 years |
Expected volatility |  |  | 40.59 | %
Risk-free interest rate |  |  | 1.40 | %
Price hurdle 1 |  | $ | 13.00 |
Price hurdle 2 |  | $ | 15.00 |
Reconciliation of changes | The reconciliation of changes in Level 3 during the year ended December 31, 2021 is as follows:
|  | For the year ended December 31, 2021 |
|  | Private Warrants |  |  | Acquisition Contingent Consideration |  |  | Earn-Out Liability |  |  | Total |
Balance on December 31, 2020 |  | $ | — |  |  | $ | 9,200 |  |  | $ | — |  |  | $ | 9,200 |
Cash paid for contingent consideration |  |  | — |  |  |  | (26,573 | ) |  |  | — |  |  |  | (26,573 | )
Liabilities assumed in recapitalization |  |  | 9,613 |  |  |  | — |  |  |  | 17,722 |  |  |  | 27,335 |
Losses included in earnings |  |  | 12,180 |  |  |  | 17,373 |  |  |  | 8,874 |  |  |  | 38,427 |
Balance on December 31, 2021 |  | $ | 21,793 |  |  | $ | — |  |  | $ | 26,596 |  |  | $ | 48,389 |

X
- Definition Reconciliation of Changes. + References No definition available. + Details
Name: | hlly_ReconciliationOfChanges
Namespace Prefix: | hlly_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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. + 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 (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
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 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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration