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FAIR VALUE (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of fair values of financial assets and liabilities
As of June 30, 2023, the fair values of our financial assets and liabilities were categorized as follows:
TotalLevel 1Level 2Level 3
Assets
Investment in equity securities (1)
$8,376 $8,376 $— $— 
Foreign exchange contracts (2)
953 — 953 — 
Convertible notes5,650 — — 5,650 
Total assets at fair value$14,979 $8,376 $953 $5,650 
Liabilities
Foreign exchange contracts (2)
$909 $— $909 $— 
Cross currency swap contract (2)
15,636 — 15,636 — 
Total liabilities at fair value$16,545 $— $16,545 $— 
As of December 31, 2022, the fair values of our financial assets and liabilities were categorized as follows:
TotalLevel 1Level 2Level 3
Assets
Investment in equity securities (1)
$5,297 $5,297 $— $— 
Foreign exchange contracts (2)
1,107 — 1,107 — 
Convertible note5,650 — — 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 obligation25,310 — — 25,310 
Total liabilities at fair value$34,419 $— $9,109 $25,310 
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(1)Investment in PureCycle Technologies ("PCT" or "PureCycle"). See Note 18 – Investment in Equity Securities for discussion of this investment.
(2)Market approach valuation technique based on observable market transactions of spot and forward rates.
Schedule of contingent consideration arrangements, fair value
We consider these obligations a Level 3 liability and estimated the aggregate fair value for these contingent consideration arrangements as follows:
June 30, 2023December 31, 2022
Fusion Acquisition$— $25,310 
Noble Acquisition— — 
$— $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$25,310 
Increase in fair value recorded in earnings— 
Payments(25,310)
Balance, June 30, 2023$—