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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2019
Fair Value Measurements  
Summary of fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis

The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of September 30, 2019 and December 31, 2018 (in thousands):

Fair Value Measurements at September 30, 2019

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash and cash equivalents

$

40,363

$

$

$

40,363

Life insurance—cash surrender value

$

$

3,758

$

$

3,758

Contingent earn-out obligations

$

$

$

29,430

$

29,430

Fair Value Measurements at December 31, 2018

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash and cash equivalents

$

45,620

$

$

$

45,620

Life insurance—cash surrender value

$

$

3,252

$

$

3,252

Contingent earn-out obligations

$

$

$

7,375

$

7,375

Schedule of reconciliation of the fair value of contingent earn-out obligations that use significant unobservable inputs (Level 3)

The table below presents a reconciliation of the fair value of our contingent earn-out obligations that use significant unobservable inputs (Level 3) (in thousands):

Balance at beginning of year

    

$

7,375

 

Issuances

 

19,500

Settlements

(1,369)

Adjustments to fair value

 

3,924

Balance at September 30, 2019

$

29,430