Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the fair value hierarchy information for each major category of the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019:



(in thousands)	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
March 31, 2020
Assets:
Money market funds	$	12,090	$	—		$	—		$	12,090
Derivative assets	—		817			—			817
Total assets	$	12,090	$	817		$	—		$	12,907
Liabilities:
Contingent consideration	$	—	$	—		$	(917	)	$	(917	)
Derivative liabilities	—		(765		)	—			(765		)
Total liabilities	$	—	$	(765	)	$	(917	)	$	(1,682	)
December 31, 2019
Assets:
Money market funds	$	7,108	$	—		$	—		$	7,108
Derivative assets	—		583			—			583
Total assets	$	7,108	$	583		$	—		$	7,691
Liabilities:
Contingent consideration	$	—	$	—		$	(894	)	$	(894	)
Derivative liabilities	—		(1,463		)	—			(1,463		)
Total liabilities	$	—	$	(1,463	)	$	(894	)	$	(2,357	)

Summary of Changes in Fair Value of Contingent Consideration Liability

The following table sets forth a summary of changes in the fair value of the Company’s contingent consideration liability for the acquisition of Initech, LLC as of March 31, 2020:



(in thousands)	Contingent Consideration
Balance as of December 31, 2019	$	894
Accretion	23
Balance as of December 31, 2020	$	917