Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule fair value of the Company’s financial assets and liabilities measured at fair value
The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, based on the three-tier fair value hierarchy, as defined in ASC 820, “Fair Value Measurements and Disclosures”:
  March 31, 2021
  Fair Value Level I Level II Level III
(in thousands)
Assets:        
Money market funds $ 67,053  $ 67,053  $ —  $ — 
Assets to fund deferred compensation liability 10,169  —  —  10,169 
Total assets $ 77,222  $ 67,053  $ —  $ 10,169 
Liabilities:        
Contingent consideration $ 11,746  $ —  $ —  $ 11,746 
Deferred compensation liability 9,606  9,606  —  — 
Total liabilities $ 21,352  $ 9,606  $ —  $ 11,746 

  December 31, 2020
  Fair Value Level I Level II Level III
(in thousands)
Assets:        
Money market funds $ 84,110  $ 84,110  $ —  $ — 
Assets to fund deferred compensation liability 9,961  —  —  9,961 
Total assets $ 94,071  $ 84,110  $ —  $ 9,961 
Liabilities:        
Contingent consideration $ 12,559  $ —  $ —  $ 12,559 
Deferred compensation liability 8,720  8,720  —  — 
Total liabilities $ 21,279  $ 8,720  $ —  $ 12,559 
Summary of changes in the fair value of the Company's Level 3 liability
The table below presents a reconciliation of the Company's contingent consideration liabilities, which were measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2020 to March 31, 2021: 
  Fair Value of Contingent Consideration Liabilities
(in thousands)
Balance at December 31, 2020 $ 12,559 
Fair market value adjustment on contingent consideration liability (140)
Accretion on contingent consideration 327 
Payment of contingent consideration (1,000)
Balance at March 31, 2021 $ 11,746 
Summary of changes in the fair value of the Company's Level 3 assets
The table below presents a reconciliation of the assets used to fund deferred the Company's deferred compensation liability, which is measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2020 to March 31, 2021:
  Fair Value of Assets to Fund Deferred Compensation Liability
(in thousands)
Balance at December 31, 2020 $ 9,961 
Fair value adjustments 208 
Balance at March 31, 2021 $ 10,169