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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Summary of Changes in Fair Value of Company's Earn-Out Liability | The following table presents a summary of changes in fair value of the Company's Level 3 earn-out liabilities measured on a recurring basis for 2019 and 2018:
(in thousands) |  | MUSA-Stainless |  | MUSA-Galvanized |  | American Stainless |  | Total
Balance at December 31, 2017 |  | $ | 4,834 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,834 |
Fair value of the earn-out liability associated with the MUSA-Galvanized acquisition |  | — |  |  | 3,800 |  |  | — |  |  | $ | 3,800 |
Earn-out payments during the period |  | (2,164 | ) |  | (291 | ) |  | — |  |  | $ | (2,455 | )
Changes in fair value during the period |  | 1,582 |  |  | (151 | ) |  | — |  |  | $ | 1,431 |
Balance at December 31, 2018 |  | $ | 4,252 |  |  | $ | 3,358 |  |  | $ | — |  |  | $ | 7,610 |
Fair value of the earn-out liability associated with the American Stainless (ASTI) acquisition |  | — |  |  | — |  |  | 6,366 |  |  | $ | 6,366 |
Earn-out payments during period |  | (1,634 | ) |  | (712 | ) |  | (1,729 | ) |  | $ | (4,075 | )
Changes in fair value during the period |  | (215 | ) |  | (864 | ) |  | 332 |  |  | $ | (747 | )
Balance at December 31, 2019 |  | $ | 2,403 |  |  | $ | 1,782 |  |  | $ | 4,969 |  |  | $ | 9,154 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 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 (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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