FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of fair values of financial assets and liabilities

As of March 31, 2023, the fair values of our financial assets and liabilities were categorized as follows:

	Total		Level 1		Level 2		Level 3
Assets
Investment in equity securities (1)	$	5,485	$	5,485	$	—	$	—
Foreign exchange contracts (2)	773		—		773		—
Convertible notes	5,650		—		—		5,650
Total assets at fair value	$	11,908	$	5,485	$	773	$	5,650
Liabilities
Foreign exchange contracts (2)	$	778	$	—	$	778	$	—
Cross currency swap contract (2)	10,651		—		10,651		—
Contingent consideration obligation	25,310		—		—		25,310
Total liabilities at fair value	$	36,739	$	—	$	11,429	$	25,310

As of December 31, 2022, the fair values of our financial assets and liabilities were categorized as follows:

	Total		Level 1		Level 2		Level 3
Assets
Investment in equity securities (1)	$	5,297	$	5,297	$	—	$	—
Foreign exchange contracts (2)	1,107		—		1,107		—
Convertible note	5,650		—		—		5,650
Total assets at fair value	$	12,054	$	5,297	$	1,107	$	5,650
Liabilities
Foreign exchange contracts (2)	$	269	$	—	$	269	$	—
Cross currency swap contract (2)	8,840		—		8,840		—
Contingent consideration obligation	25,310		—		—		25,310
Total liabilities at fair value	$	34,419	$	—	$	9,109	$	25,310

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(1)Investment in PureCycle Technologies ("PCT" or "PureCycle"). See Note 18 – 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:

	March 31, 2023		December 31, 2022
Fusion Acquisition	$	25,310	$	25,310
Noble Acquisition	—		—
	$	25,310	$	25,310

Summary of changes in Level 3 fair value measurements

The following table provides a summary of changes in our Level 3 fair value measurements:

Balance, December 31, 2022	$	25,310
Decrease in fair value recorded in earnings	—
Payments	—
Balance, March 31, 2023	$	25,310

Subsequent to March 31, 2023, we repaid the outstanding contingent consideration obligation to the selling equity holders of Fusion.