Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Derivative Instruments

The following tables show the liabilities measured at fair value for the Preferred Stock derivatives above as of December 31, 2020, and December 31, 2019.

	Fair Value Measurements as of December 31, 2020
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	—	$	2,453
Derivative liability - other non-current liabilities	—		—		664
Description	$	—	$	—	$	3,117

	Fair Value Measurements as of December 31, 2019
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	—	$	60
Derivative liability - other non-current liabilities	—		—		2,235
Total	$	—	$	—	$	2,295

The following table presents the change in the Preferred Stock derivatives during the twelve months ended December 31, 2020 and 2019.

	Years Ended December 31,
	2020		2019
Beginning balance	$	2,295	$	—
Issuances	—		2,295
Change in fair value (1)	(493)		—
Other (2)	1,315		—
Ending balance	$	3,117	$	2,295

_______________________________

(1) Changes in the fair value are recognized in the “Other expense (income), net” line in the Consolidated Statements of Operations and Comprehensive Income (Loss). All of the change in fair value relates to the derivative liability held at December 31, 2020.

(2) In 2020, we determined that certain anti-dilution provisions of the Warrants require liability accounting; therefore, we reclassified the $1.1 million value of the Warrants recorded in Stockholders’ Equity as of December 31, 2019, to a liability during the twelve months ended December 31, 2020.

Schedule of Notional Amounts of Outstanding Derivatives

The notional amount of the interest rate swap decreases over time as presented in the following table:

	Notional Amount
February 12, 2019 - December 30, 2020	$	700,000,000
December 31, 2020 - December 30, 2021	466,667,000
December 31, 2021 - October 19, 2022	233,333,000

Schedule of Effect of Interest Rate Swaps

The following table presents the effect of the interest rate swap on the Consolidated Statements of Operations and Comprehensive Income (Loss).

	Years Ended December 31,
	2020		2019
Interest expense	$	8,906	$	1,411
Derivative payments on interest rate swap	4,133		—
Loss on interest rate swap	11,669		—

Schedule of Fair Value Of Liabilities On a Recurring Basis

The following tables present the liabilities measured at fair value on a recurring basis for the interest rate swap as of December 31, 2020, and December 31, 2019.

	Fair Value Measurements as of December 31, 2020
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	11,022	$	—
Derivative liability - other non-current liabilities	—		4,357		—
Total	$	—	$	15,379	$	—

	Fair Value Measurements as of December 31, 2019
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	5,943	$	—
Derivative liability - other non-current liabilities	—		6,290		—
Total	$	—	$	12,233	$	—