Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 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 as of December 31 and are categorized as follows:

	December 31, 2021								December 31, 2020
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Foreign exchange contract	$	1,375	$	—	$	1,375	$	—	$	1,882	$	—	$	1,882	$	—
Interest rate swap agreement	$	241	$	—	$	241	$	—	$	936	$	—	$	936	$	—
Liabilities:
Interest rate swap agreement	$	498	$	—	$	498	$	—	$	2,080	$	—	$	2,080	$	—
Contingent Consideration	$	4,409	$	—	$	—	$	4,409	$	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	609
Payments	(5,000)
Contingent Consideration liability balance at December 31, 2021	$	4,409

Notional Amount of Foreign Exchange Contracts

The following table summarizes the notional amount of our open foreign exchange contracts at December 31:

	2021				2020
	U.S. $ Equivalent		U.S. $ Equivalent Fair Value		U.S. $ Equivalent		U.S. $ Equivalent Fair Value
Commitments to buy or sell currencies	$	49,601	$	48,712	$	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 Consolidated Balance Sheets at December 31 : 

	Derivative Asset
	Balance Sheet Location	Fair Value
		2021		2020
Foreign exchange contracts	Other assets	$	1,375	$	1,882
Interest Rate Swap Contract	Accrued liabilities and other	$	241	$	936

	Derivative Liability
	Balance Sheet Location	Fair Value
		2021		2020
Interest Rate Swap	Accrued liabilities and other	$	498	$	2,080

	Derivative Equity
	Balance Sheet Location	Fair Value
		2021		2020
Foreign exchange contracts	Accumulated other comprehensive loss	$	757	$	1,441

Effect of Derivative Instruments on Consolidated Statements of Income for Derivatives not Designated as Accounting Hedges

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

		2021		2020
	Location of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
Foreign exchange contracts	Cost of revenues	$	2,452	$	(1,811)
Interest rate swap agreement	Interest expense	$	(9)	$	(1,031)
Foreign exchange contracts	Other (income) expense	$	134	$	—

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:

	December 31, 2021				December 31, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Term loan and security agreement 1	$	145,556	$	142,265	$	—	$	—
Term loan and security agreement 2	$	—	$	—	$	146,576	$	144,878
Revolving Credit Facility 1	$	49,400	$	49,400	$	—	$	—

1    Presented in the Consolidated Balance Sheets as the current portion of long-term debt of $9.4 million and long-term debt of $185.6 million as of December 31, 2021.

2 Presented in the 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.