Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Values of Our Derivative Assets and Liabilities

The fair values of our derivative assets and liabilities and Contingent Consideration measured on a recurring basis are categorized as follows: 

	September 30, 2022								December 31, 2021
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Foreign exchange contract	$	981	$	—	$	981	$	—	$	1,375	$	—	$	1,375	$	—
Interest rate swap agreement	$	1,944	$	—	$	1,944	$	—	$	241	$	—	$	241	$	—
Liabilities:
Foreign exchange contract	$	134	$	—	$	134	$	—	$	—	$	—	$	—	$	—
Interest rate swap agreement	$	—	$	—	$	—	$	—	$	498	$	—	$	498	$	—
Contingent Consideration	$	4,750	$	—	$	—	$	4,750	$	4,409	$	—	$	—	$	4,409

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Details of the changes in value for the Contingent Consideration that is measured using significant unobservable inputs (Level 3) are as follows:

	Amount
Contingent Consideration liability balance at December 31, 2021	$	4,409
Change in fair value	341
Contingent Consideration liability balance at September 30, 2022	$	4,750

Notional Amount of Foreign Exchange Contracts

The following table summarizes the notional amount of our open foreign exchange contracts:

	September 30, 2022				December 31, 2021
	U.S. $ Equivalent		U.S. $ Equivalent Fair Value		U.S. $ Equivalent		U.S. $ Equivalent Fair Value
Commitments to buy or sell currencies	$	12,640	$	12,863	$	49,601	$	48,712

Fair Value and Presentation in Consolidated Balance Sheets for Derivatives none of which are Designated as Accounting Hedges

The following table summarizes the fair value and presentation of derivatives in the Condensed Consolidated Balance Sheets: 

	Derivative Asset
	Balance Sheet Location	Fair Value
		September 30, 2022		December 31, 2021
Foreign exchange contracts	Other current assets	$	981	$	1,375
Interest rate swap agreement	Other current assets	$	389	$	—
Interest rate swap agreement	Other assets, net	$	1,555	$	—
Interest rate swap agreement	Accrued liabilities and other	$	—	$	241

	Derivative Liability
	Balance Sheet Location	Fair Value
		September 30, 2022		December 31, 2021
Foreign exchange contracts	Accrued liabilities and other	$	134	$	—
Interest rate swap agreement	Accrued liabilities and other	$	—	$	498

	Derivative Equity
	Balance Sheet Location	Fair Value
		September 30, 2022		December 31, 2021
Derivative instruments	Accumulated other comprehensive (loss) income	$	4,768	$	757

Effect of Derivative Instruments on Consolidated Statements of Operations for Derivatives not Designated as Hedging Instruments

The following table summarizes the effect of derivative instruments on the Condensed Consolidated Statements of Operations:

		Three Months Ended September 30,				Nine Months Ended September 30,
		2022		2021		2022		2021
	Location of Gain (Loss) on Derivatives Recognized in Income (Loss)	Amount of Gain (Loss) on Derivatives Recognized in Income (Loss)				Amount of Gain (Loss) on Derivatives Recognized in Income (Loss)
Foreign exchange contracts	Cost of revenues	$	776	$	807	$	2,076	$	1,654
Interest rate swap agreements	Interest and other expense	$	(67)	$	(1)	$	(344)	$	(7)
Foreign exchange contracts	Other (income) expense	$	(185)	$	63	$	(219)	$	286

Carrying Amounts and Fair Values of Our Long-Term Debt Obligations

The carrying amounts and fair values of our long-term debt obligations are as follows:

	September 30, 2022				December 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Term loan and security agreement 1	$	172,746	$	161,081	$	145,556	$	142,265
Revolving credit facility 1	$	11,588	$	11,588	$	49,400	$	49,400

1.Presented in the Condensed Consolidated Balance Sheets as the current portion of long-term debt of $9.8 million and long-term debt of $174.5 million as of September 30, 2022 and current portion of long-term debt of $9.4 million and long-term debt of $185.6 million as of December 31, 2021.