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Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis
The following table provides the assets and liabilities carried at fair value measured on a recurring basis at March 31, 2020 and December 31, 2019 (in thousands):
 
Fair Value Measurements at March 31, 2020
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Liabilities:
 
 
 
 
 
 
 
Put option of noncontrolling shareholders (1)
$
(215
)
 
$
—

 
$
—

 
$
(215
)
Total recorded at fair value
$
(215
)
 
$
—

 
$
—

 
$
(215
)

(1) 
Represents put option issued to noncontrolling shareholders in connection with the 5.11 and Liberty acquisitions.
 
Fair Value Measurements at December 31, 2019
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Liabilities:
 
 
 
 
 
 
 
Put option of noncontrolling shareholders (1)
$
(111
)
 
$
—

 
$
—

 
$
(111
)
Total recorded at fair value
$
(111
)
 
$
—

 
$
—

 
$
(111
)
Reconciliations of Change in Carrying Value of Level 3 Fair Value Measurements
Reconciliations of the change in the carrying value of the Level 3 fair value measurements from January 1, 2019 through March 31, 2020 are as follows (in thousands):
 
Level 3
Balance at January 1, 2019
$
(4,547
)
Decrease in the fair value of put option of noncontrolling shareholder - Liberty
72

Increase in the fair value of put option of noncontrolling shareholder - 5.11
(10
)
Adjustment to Ravin contingent consideration (1)
(2,022
)
Payment of contingent consideration - Ravin (1)
6,396

Balance at December 31, 2019
$
(111
)
Increase in the fair value of put option of noncontrolling shareholder - Liberty
(63
)
Increase in the fair value of put option of noncontrolling shareholder - 5.11
(41
)
Balance at March 31, 2020
$
(215
)
Fair Value Measurements, Nonrecurring The following table provides the assets and liabilities carried at fair value measured on a non-recurring basis as of December 31, 2019. Refer to "Note F – Goodwill and Other Intangible Assets", for a description of the valuation techniques used to determine fair value of the assets measured on a non-recurring basis in the table below.
 
 
 
 
 
 
 
 
 
Expense
 
Fair Value Measurements at December 31, 2019
 
Year ended
(in thousands)
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
 
December 31, 2019
Goodwill - Velocity Outdoor
$
30,079

 
$
—

 
$
—

 
$
30,079

 
$
32,881