Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Values of Our Derivative Assets and Liabilities

The fair values of our derivative assets and liabilities and Contingent Consideration measured on a recurring basis are categorized as follows: 

	September 30, 2021								December 31, 2020
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Foreign exchange contract	$	794	$	—	$	794	$	—	$	1,882	$	—	$	1,882	$	—
Interest rate swaps	$	411	$	—	$	411	$	—	$	936	$	—	$	936	$	—
Liabilities:
Interest rate swaps	$	913	$	—	$	913	$	—	$	2,080	$	—	$	2,080	$	—
Contingent Consideration	$	4,288	$	—	$	—	$	4,288	$	8,800	$	—	$	—	$	8,800

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Details of the changes in value for the Contingent Consideration that is measured using significant unobservable inputs (Level 3) are as follows:

	Amount
Contingent Consideration liability balance at December 31, 2020	$	8,800
Change in fair value	488
Payments	(5,000)
Contingent Consideration liability balance at September 30, 2021	$	4,288

Notional Amount of Foreign Exchange Contracts

The following table summarizes the notional amount of our open foreign exchange contracts:

	September 30, 2021				December 31, 2020
	U.S. $ Equivalent		U.S. $ Equivalent Fair Value		U.S. $ Equivalent		U.S. $ Equivalent Fair Value
Commitments to buy or sell currencies	$	7,055	$	7,287	$	14,675	$	16,558

Fair Value and Presentation in Consolidated Balance Sheets for Derivatives none of which are Designated as Accounting Hedges

The following table summarizes the fair value and presentation of derivatives in the Condensed Consolidated Balance Sheets: 

	Derivative Asset
	Balance Sheet Location	Fair Value
		September 30, 2021		December 31, 2020
Foreign exchange contracts	Other current assets	$	794	$	1,882
Interest rate swaps	Accrued liabilities and other	$	411	$	936

	Derivative Liability
	Balance Sheet Location	Fair Value
		September 30, 2021		December 31, 2020
Interest rate swaps	Accrued liabilities and other	$	913	$	2,080

	Derivative Equity
	Balance Sheet Location	Fair Value
		September 30, 2021		December 31, 2020
Foreign exchange contracts	Accumulated other comprehensive loss	$	389	$	1,441

Effect of Derivative Instruments on Consolidated Statements of Operations for Derivatives not Designated as Hedging Instruments

The following table summarizes the effect of derivative instruments on the Condensed Consolidated Statements of Operations:

		Three Months Ended September 30,				Nine Months Ended September 30,
		2021		2020		2021		2020
	Location of Gain (Loss) on Derivatives Recognized in Income (Loss)	Amount of Gain (Loss) on Derivatives Recognized in Income (Loss)				Amount of Gain (Loss) on Derivatives Recognized in Income (Loss)
Foreign exchange contracts	Cost of revenues	$	807	$	(640)	$	1,654	$	(1,525)
Interest rate swaps	Interest and other expense	$	(1)	$	(2)	$	(7)	$	(1,026)
Foreign exchange contracts	Other (income) expense	$	63	$	—	$	286	$	—

Carrying Amounts and Fair Values of Our Long-Term Debt Obligations

The carrying amounts and fair values of our long-term debt obligations are as follows:

	September 30, 2021				December 31, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Term Loan Facility 1	$	147,391	$	144,057	$	—	$	—
Term loan and security agreement 2	$	—	$	—	$	146,576	$	144,878
Revolving Credit Facility 1	$	31,300	$	31,300	$	—	$	—

1.Presented in the Condensed Consolidated Balance Sheets as the current portion of long-term debt of $8.4 million and long-term debt of $170.3 million as of September 30, 2021

2.Presented in the Condensed Consolidated Balance Sheets as the current portion of long-term debt of $2.4 million and long-term debt of $144.1 million as of December 31, 2020.