Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and December 31, 2020 and the level they fall within the fair value hierarchy (in thousands):


Amounts Recorded at Fair Value	Financial Statement Classification	Fair Value Hierarchy	Fair Value December 31, 2021		Fair Value December 31, 2020
Non-COLI assets held in Deferred Supplemental Compensation Plan	Other assets	Level 1	$	598	$	1,120
Interest rate swaps	Accrued expenses	Level 2	$	234	$	1,603
Earn-out obligation-current	Accrued expenses	Level 3	$	1,000	$	—
Earn-out obligation-long-term	Other long-term liabilities	Level 3	$	250	$	—

Fair Value Measured on a Recurring Basis

Changes in earn-out obligation measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2021 and 2020 are as follows (in thousands):


	Current portion		Long-term portion		Total
Balance as of December 31, 2019	$	31,700	$	5,000	$	36,700
Earn-out payments	(31,700)		—		(31,700)
Reclassification from long-term to current	5,000		(5,000)		—
Fair value adjustment included in costs and operating expenses	(5,000)		—		(5,000)
Balance as of December 31, 2020	—		—		—
Acquisition date fair value of contingent consideration	1,750		250		2,000
Earn-out payments	(750)		—		(750)

Balance as of December 31, 2021	$	1,000	$	250	$	1,250