Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of the periods presented:

	September 30, 2023
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Interest rate swaps	$	—	$	3,073	$	—	$	3,073
Liabilities
Interest rate swaps	—		475		—		475
Contingent consideration	—		—		4,934		4,934

	December 31, 2022
(in thousands)	Level 1		Level 2		Level 3		Total
Liabilities
Contingent consideration	$	—	$	—	$	1,219	$	1,219

Schedule of Fair Value of the Level 3 Liabilities with Significant Unobservable Inputs

The following table summarizes the change in fair value of the Level 3 liabilities with significant unobservable inputs for the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Fair value of contingent consideration, beginning of period	$	5,620	$	1,230	$	1,219	$	1,445
Acquired liabilities	—		—		4,706		—
Cash payments	—		(11)		(305)		(226)
Change in fair value of contingent consideration, net	(686)		—		(686)		—
Fair value of contingent consideration, end of period	$	4,934	$	1,219	$	4,934	$	1,219