Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

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 are included, for assets and liabilities measured on a recurring basis as of December 31, 2021 and 2020 (in thousands):

	Fair Value Measurements at December 31, 2021
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	58,776	$	—	$	—	$	58,776
Life insurance—cash surrender value	$	—	$	6,643	$	—	$	6,643
Contingent earn-out obligations	$	—	$	—	$	34,114	$	34,114
	Fair Value Measurements at December 31, 2020
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	54,896	$	—	$	—	$	54,896
Life insurance—cash surrender value	$	—	$	5,420	$	—	$	5,420
Contingent earn-out obligations	$	—	$	—	$	25,979	$	25,979
Interest rate swap liability	$	—	$	42	$	—	$	42

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):

	December 31,
	2021		2020
Balance at beginning of year	$	25,979	$	28,497
Issuances		19,949		16,715
Settlements		(3,994)		(10,114)
Adjustments to fair value		(7,820)		(9,119)
Balance at end of year	$	34,114	$	25,979