Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of financial instruments measured at fair value on a recurring basis

The following table sets forth our assets and liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2022 (in thousands):

	Fair Value at December 31, 2022
	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	—	$	—	$	42,754	$	42,754

Reconciliation of Level 3 recurring fair value measurements

The reconciliation of Level 3 recurring fair value measurements is as follows (in thousands):

	2023
Balance at January 1,	$	42,754
Change in fair value		42,246
Transfers out of Level 3		(85,000)
Balance at December 31,	$	—

Schedule of principal amount and estimated fair value of long-term debt

The principal amount and estimated fair value of our long-term debt are as follows (in thousands):

	December 31, 2023				December 31, 2022
	Principal		Fair		Principal		Fair
	Amount (1)		Value (2)		Amount (1)		Value (2)
2023 Notes (matured September 2023)	$	—	$	—	$	30,000	$	31,149
2026 Notes (mature February 2026)		40,199		64,117		200,000		277,014
MARAD Debt (matures February 2027)		32,580		32,348		40,913		40,940
2029 Notes (mature March 2029)		300,000		315,987		—		—
Total debt	$	372,779	$	412,452	$	270,913	$	349,103

(1) Principal amount includes current maturities and excludes any related unamortized debt discount and debt issuance costs. See Note 7 for additional disclosures on our long-term debt.

(2) The estimated fair value was determined using Level 2 fair value inputs under the market approach, which was determined using a third-party evaluation of the remaining average life and outstanding principal balance of the indebtedness as compared to other obligations in the marketplace with similar terms.