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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Summary of changes in fair value of the Company's Level 3 assets and liabilities that are measured at fair value on a recurring basis
The following table presents a summary of changes in fair value of the Company’s Level 3 liabilities that are measured at fair value on a recurring basis (in thousands):
 
Level 3 Inputs
 
Liabilities
Balance at December 31, 2017
$
3,000

New level 3 liability

Change in fair value of contingent consideration liability
(450
)
Settlement of level 3 liabilities

Balance at December 31, 2018
2,550

New level 3 liability
3,340

Change in fair value of contingent consideration liability

Settlement of level 3 liabilities
(2,550
)
Balance at December 31, 2019
$
3,340