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Fair Value Measures and Disclosures (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation The following tables provide a reconciliation of the Level 3 earn-out liabilities measured at estimated fair value (in thousands):
Pursuit
Earn-out Liability
Accrued balance, January 1, 2020$17,300 
Change in fair value of earn-out (included in income from operations as a separate line item)— 
Accrued balance, March 31, 2020$17,300 
Change in fair value of earn-out (included in income from operations as a separate line item)2,700 
Accrued balance, June 30, 2020$20,000 
Change in fair value of earn-out (included in income from operations as a separate line item)4,300 
Accrued balance, September 30, 2020$24,300 

HIS
Earn-out Liability
Accrued balance, January 1, 2019$47,400 
Change in fair value of earn-out (included in income from operations as a separate line item)(7,700)
Accrued balance, March 31, 2019$39,700 
Change in fair value of earn-out (included in income from operations as a separate line item)(39,500)
Accrued balance, June 30, 2019$200 
Change in fair value of earn-out (included in income from operations as a separate line item)(200)
Accrued balance, September 30, 2019$— 
    
The fair value of the Pursuit earn-out increased at September 30, 2020 from the fair value calculated at December 31, 2019 primarily due to changes in the probabilities within the valuation model.
Fair Value Measurement Inputs and Valuation Techniques The following tables provide quantitative information about Level 3 inputs for fair value measurement of our earn-out liabilities:
Pursuit Earn-out
Simulation InputAs of
September 30, 2020		At Acquisition November 2, 2019
Revenue/Gross Profit Volatility35.00 %20.00 %
Discount Rate12.50 %15.00 %
Risk Free Rate0.12 %1.55 %
Counter Party Risk4.50 %6.00 %

HIS Earn-out
Simulation InputAs of
December 31, 2018
Adjusted EBITDA Volatility30.00 %
WACC8.25 %
20-year risk free rate2.87 %
Market price of risk5.24 %
Cost of debt5.25 %
Fair Value, by Balance Sheet Grouping
Our assets and liabilities measured at fair value on a recurring basis consisted of the following (Level 1, 2 and 3 inputs as defined above) (in thousands):
 Fair value measurements at September 30, 2020
 Total carrying
value		Quoted prices
in active
markets for
identical
assets (level 1)		Significant
other
observable
inputs (level 2)		Significant
unobservable
inputs (level 3)
Assets:
Available for sale securities:
Short-term$12,544 $— $12,544 $— 
Foreign exchange forwards:
Prepaid expenses and other current assets1,090 — 1,090 — 
Other assets216 — 216 — 
Total Assets$13,850 $— $13,850 $— 
Liabilities:
Earn-out liability$24,300 $— $— $24,300 
Foreign exchange forwards:
Accrued liabilities6 — 6 — 
Total Liabilities$24,306 $— $6 $24,300 
 Fair value measurements at December 31, 2019
 Total carrying
value		Quoted prices
in active
markets for
identical
assets (level 1)		Significant
other
observable
inputs (level 2)		Significant
unobservable
inputs (level 3)
Assets:
Available for sale securities:
Short-term$23,967 $— $23,967 $— 
Foreign exchange forwards:
Prepaid expenses and other current assets2,366 — 2,366 — 
Total Assets$26,333 $— $26,333 $— 
Liabilities:
Earn-out liability$17,300 $— $— $17,300 
Total Liabilities$17,300 $— $— $17,300