Fair Value Measurements

3 Months Ended

Mar. 31, 2023

Fair Value Measurements [Abstract]

Fair Value Measurements

8. Fair Value Measurements

Fair Value of Financial Instruments

As of March 31, 2023, the following table represents the Company’s assets and liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):

	Carrying Value March 31, 2023		Fair Value Measurement March 31, 2023		Quoted Prices in Active Markets for Identical Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	2	$	2		—	$	2		—
Liabilities:
Derivative liabilities (other current liabilities)	$	2,641	$	2,641		—	$	2,641		—

As of December 31, 2022, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):

	Carrying Value December 31, 2022		Fair Value Measurement December 31, 2022		Quoted Prices in Active Markets for Identical Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative liabilities (other current liabilities)	$	2,015	$	2,015		—	$	2,015		—

Items not reflected in the table above include cash equivalents, accounts receivable, other receivables, accounts payable, and other accounts payable, fair value of which approximate carrying values due to the short-term nature of these instruments. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs.