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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Carrying Amounts and Estimated Fair Values of the Company's Financial Instruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments:

		At December 31,
		2020								2019
		Carrying Amount				Fair Value				Carrying Amount				Fair Value
		(in thousands)
Financial assets
Cash and cash equivalents		$	101,513				101,513			$	7,676			$	7,676
Restricted cash			2,635				2,635				2,222				2,222
Accounts receivable			4,352				4,352				3,767				3,767
Interest Rate Swaps (Other assets)			—				—				9				9
Total		$	108,500			$	108,500			$	13,674			$	13,674
Financial liabilities
Notes payable			157,747				157,747				3,313				3,313
Accounts payable			3,442				3,442				1,337				1,337
Accrued expenses			3,033				3,033				2,006				2,006
Income tax payable			1,640				1,640			$	—
Total		$	165,862			$	165,862			$	6,656			$	6,656

Summary of Fair Value Assets and Liabilities Measured on Recurring Basis

The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis (including items that are required to be measured at fair value) at December 31, 2020 and 2019:

		December 31, 2020				Fair value measurements at reporting date using
						Level 1				Level 2				Level 3
		(in thousands)
Liabilities:
Notes payable at fair value, net of debt issuance cost			157,747				—				157,747				—
Total		$	157,747			$	—			$	157,747			$	—

		December 31, 2019				Fair value measurements at reporting date using
						Level 1				Level 2				Level 3
		(in thousands)
Assets:
Interest rate swaps at fair value		$	9			$	—			$	9			$	—
Total			9				—				9				—
Liabilities:
Notes payable at fair value, net of debt issuance cost			3,313				—				3,313				—
Total		$	3,313			$	—			$	3,313			$	—

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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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=117815213&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=117815213&loc=d3e19207-110258

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