Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

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, 2021 and December 31, 2020 (in thousands):

	Fair Value Measurements at June 30, 2021
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	53,659	$	—	$	—	$	53,659
Life insurance—cash surrender value	$	—	$	6,510	$	—	$	6,510
Contingent earn-out obligations	$	—	$	—	$	22,602	$	22,602
Interest rate swap liability	$	—	$	48	$	—	$	48
	Fair Value Measurements at December 31, 2020
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	54,896	$	—	$	—	$	54,896
Life insurance—cash surrender value	$	—	$	5,420	$	—	$	5,420
Contingent earn-out obligations	$	—	$	—	$	25,979	$	25,979
Interest rate swap liability	$	—	$	42	$	—	$	42

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, 2021		December 31, 2020
Balance at beginning of period	$	25,979	$	28,497
Issuances		3,255		16,715
Settlements		(865)		(10,114)
Adjustments to fair value		(5,767)		(9,119)
Balance at end of period	$	22,602	$	25,979