Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Measurements

Summary of fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis

The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands):

	Fair Value Measurements at June 30, 2020
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	53,253	$	—	$	—	$	53,253
Life insurance—cash surrender value	$	—	$	4,298	$	—	$	4,298
Contingent earn-out obligations	$	—	$	—	$	29,385	$	29,385
Interest rate swaps	$	—	$	62	$	—	$	62
	Fair Value Measurements at December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	50,788	$	—	$	—	$	50,788
Life insurance—cash surrender value	$	—	$	3,905	$	—	$	3,905
Contingent earn-out obligations	$	—	$	—	$	28,497	$	28,497

Schedule of reconciliation of the fair value of contingent earn-out obligations that use significant unobservable inputs (Level 3)

The table below presents a reconciliation of the fair value of our contingent earn-out obligations that use significant unobservable inputs (Level 3) (in thousands):

	Six Months Ended		Year Ended
	June 30, 2020		December 31, 2019
Balance at beginning of period	$	28,497	$	7,375
Issuances		9,155		19,500
Settlements		(9,866)		(1,369)
Adjustments to fair value		1,599		2,991
Balance at end of period	$	29,385	$	28,497