Note 11 - Fair Value Measurements

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Fair Value Disclosures [Text Block]

11. FAIR VALUE MEASUREMENTS

The Company’s fair value hierarchy for our financial assets and liabilities as of March 31, 2022 and December 31, 2021 was as follows:

(in thousands)
March 31, 2022	Level 1		Level 2		Level 3		Total
Contingent consideration	$	—	$	—	$	720	$	720
Front Line Power Construction Seller financed debt		—		85,560		—		85,560
Financial instrument liability - related to Syndicated debt		—		—		1,753		1,753
Financial instrument liability - related to Front Line Power Construction seller financed debt		—		—		25,912		25,912
Total liabilities	$	—	$	85,560	$	28,385	$	113,945

December 31, 2021	Level 1		Level 2		Level 3		Total
Contingent consideration	$	—	$	—	$	720	$	720
Front Line Power Construction Seller financed debt		—		86,183		—		86,183
Financial instrument liability		—		—		825		825
Total liabilities	$	—	$	86,183	$	1,545	$	87,728

(in thousands)	Financial Instrument Liability - related to Syndicated debt
Balance at December 31, 2021	$	825
Fair Value adjustment to Financial instrument liability		928
Balance at March 31, 2022	$	1,753

(in thousands)	Financial Instrucment Liability - related to FLP seller financed debt
Balance at December 31, 2021	$	—
Fair value of financial instrument liability at inception		25,912
Balance at March 31, 2022	$	25,912

There were no transfers between Level 3 and Level 2 in the three months ended March 31, 2022 as determined at the end of the reporting period.