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FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of fair values of financial assets and liabilities
As of December 31, 2021, the fair values of our financial assets and liabilities were categorized as follows:
TotalLevel 1Level 2Level 3
Assets
Investment in equity securities (1)
$9,006 $9,006 $— $— 
Foreign exchange contracts (2)
331 — 331 — 
Cross currency swap contract (2)
511 — 511 — 
Total assets at fair value$9,848 $9,006 $842 $— 
Liabilities
Foreign exchange contracts (2)
$221 $— $221 $— 
Contingent consideration obligation33,908 — — 33,908 
Total liabilities at fair value$34,129 $— $221 $33,908 
As of December 31, 2020, the fair values of our financial assets and liabilities were categorized as follows:
TotalLevel 1Level 2Level 3
Assets
Foreign exchange contracts (2)
$322 $— $322 $— 
Cross currency swap contract (2)
— — — — 
Total assets at fair value$322 $— $322 $— 
Liabilities
Foreign exchange contracts (2)
$146 $— $146 $— 
Cross currency swap contract (2)
8,309 — 8,309 — 
Contingent consideration obligation31,140 — — 31,140 
Total liabilities at fair value$39,595 $— $8,455 $31,140 
(1)Investment in PureCycle Technologies ("PCT" or "PureCycle"). See Note 20 - Investment in Equity Securities for discussion of this investment.
(2)Market approach valuation technique based on observable market transactions of spot and forward rates.
Schedule of contingent consideration arrangements, fair value
We consider these obligations a Level 3 liability and have estimated the aggregate fair value for these contingent consideration arrangements as follows:
December 31, 2021December 31, 2020
Fusion Acquisition$27,166 $26,910 
Noble Acquisition6,742 4,230 
$33,908 $31,140 
Fair value, liabilities measured on recurring basis, unobservable input reconciliation The following table provides a summary of changes in our Level 3 fair value measurements:
Balance, December 31, 2019$5,930 
Acquisition22,745 
Increase in fair value recorded in earnings5,230 
Payments(2,765)
Balance, December 31, 2020$31,140 
Increase in fair value recorded in earnings2,768 
Balance, December 31, 2021$33,908