XML 24 R13.htm IDEA: XBRL DOCUMENT

FAIR VALUE MEASUREMENT

6 Months Ended

Jun. 30, 2021

The carrying values of the Company’s cash and cash equivalents, trade receivables and accounts payable approximate fair value due to their short maturities.

The following tables present the financial assets not measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020:


	June 30, 2021
	Carrying Value		Estimated Fair Value		Fair Value Hierarchy	Financial Statement Line Item
Financial assets:
Notes receivable - current	$	2,320	$	2,320	Level 3	Receivables
Notes receivable - non-current	3,091		3,091		Level 3	Other long-term assets
Total financial assets	$	5,411	$	5,411


	December 31, 2020
	Carrying Value		Estimated Fair Value		Fair Value Hierarchy	Financial Statement Line Item
Financial assets:
Notes receivable - non-current	$	815	$	815	Level 3	Other long-term assets
Total financial assets	$	815	$	815

The notes receivable are fixed-rate investments, are not traded and do not have observable market inputs, therefore, the fair value is estimated to be equal to the carrying value.

The following table presents the liabilities measured at fair value on a recurring basis, by input level, in the Consolidated Balance Sheets at June 30, 2021:


	June 30, 2021
	Level 1		Level 2		Level 3		Total
Financial liabilities:
Public Warrants	$	13,274	—		—		13,274
Private Warrants	—		7,070		—		7,070
Total financial liabilities	$	13,274	$	7,070	$	—	$	20,344

The Company did not have any liabilities similar to those above requiring fair value measurement at December 31, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details