Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Our financial assets and liabilities measured at fair value on a recurring basis are as follows:

	Fair value measurements as of March 31, 2021
(In thousands)	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Equity securities	$	8,837	$	—	$	—	$	8,837
Common stock options/warrants	—		96		—		96
Total assets	$	8,837	$	96	$	—	$	8,933
Liabilities:
Forward contracts	—		206		—		206
Contingent consideration	—		—		3,564		3,564
Total liabilities	$	—	$	206	$	3,564	$	3,770

	Fair value measurements as of December 31, 2020
(In thousands)	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Equity securities	$	14,136	$	—	$	—	$	14,136
Common stock options/warrants	—		74		—		74
Total assets	$	14,136	$	74	$	—	$	14,210
Liabilities:
Forward contracts	—		1,040		—		1,040
Contingent consideration	—		—		5,695		5,695
Total liabilities	$	—	$	1,040	$	5,695	$	6,735

Carrying Amount and Estimated Fair Value of Long-Term Debt

The carrying amount and estimated fair value of our 2025 Notes, as well as the applicable fair value hierarchy tiers, are contained in the table below. The fair value of the 2025 Notes is determined using inputs other than quoted prices in active markets that are directly observable.

	March 31, 2021
(In thousands)	Carrying Value		Total Fair Value		Level 1		Level 2		Level 3
2025 Notes	$	158,278	$	268,574	$	—	$	268,574	$	—

Reconciliation of the Beginning and Ending Balances of Level 3 Assets

The following table reconciles the beginning and ending balances of our Level 3 assets and liabilities as of March 31, 2021:

	March 31, 2021
(In thousands)	Contingent consideration
Balance at December 31, 2020	$	5,694
Change in fair value:
Included in results of operations	(957)
Payments	(1,173)
Balance at March 31, 2021	$	3,564

Reconciliation of the Beginning and Ending Balances of Level 3 Liabilities

The following table reconciles the beginning and ending balances of our Level 3 assets and liabilities as of March 31, 2021:

	March 31, 2021
(In thousands)	Contingent consideration
Balance at December 31, 2020	$	5,694
Change in fair value:
Included in results of operations	(957)
Payments	(1,173)
Balance at March 31, 2021	$	3,564