Fair Value Measures and Disclosures (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021	$	26,300
Change in fair value of earn-out (included in income from operations as a separate line item)	—
Accrued balance, March 31, 2021	$	26,300

	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

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 Input	As of March 31, 2021		As of December 31, 2020		As of March 31, 2020
Revenue/Gross Profit Volatility	25.00	%	25.00	%	20.00	%
Discount Rate	12.50	%	12.50	%	15.00	%
Risk Free Rate	0.09	%	0.09	%	1.55	%
Counter Party Risk	3.10	%	3.10	%	6.00	%

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 March 31, 2021
	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	$	11,693	$	—	$	11,693	$	—
Long-term	18,834		—		18,834		—
Foreign exchange forwards:
Prepaid expenses and other current assets	2,312		—		2,312		—
Total Assets	$	32,839	$	—	$	32,839	$	—
Liabilities:
Earn-out liability	$	26,300	$	—	$	—	$	26,300
Total Liabilities	$	26,300	$	—	$	—	$	26,300

	Fair value measurements at December 31, 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	$	14,687	$	—	$	14,687	$	—
Long-term	12,974		—		12,974		—
Foreign exchange forwards:
Prepaid expenses and other current assets	3,555		—		3,555		—
Total Assets	$	31,216	$	—	$	31,216	$	—
Liabilities:
Earn-out liability	$	26,300	$	—	$	—	$	26,300
Total Liabilities	$	26,300	$	—	$	—	$	26,300