Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2021 and December 31, 2020, based on the three-tier fair value hierarchy, as defined in ASC 820, “Fair Value Measurements and Disclosures”:
  June 30, 2021
  Fair Value Level I Level II Level III
(in thousands)
Assets:        
Money market funds $ 2,340  $ 2,340  $ —  $ — 
Investment in private company 1,508  —  1,508  — 
Assets to fund deferred compensation liability 10,806  —  —  10,806 
Total assets $ 14,654  $ 2,340  $ 1,508  $ 10,806 
Liabilities:        
Contingent consideration $ 1,312  $ —  $ —  $ 1,312 
Deferred compensation liability 9,414  9,414  —  — 
Total liabilities $ 10,726  $ 9,414  $ —  $ 1,312 
  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 June 30, 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 453 
Payments of contingent consideration (11,560)
Balance at June 30, 2021 $ 1,312 
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 June 30, 2021:
  Fair Value of Assets to Fund Deferred Compensation Liability
(in thousands)
Balance at December 31, 2020 $ 9,961 
Contributions 215 
Fair value adjustments 630 
Balance at June 30, 2021 $ 10,806