Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

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

The following table presents a reconciliation of the Company’s Level 3 indemnification asset measured and recorded at fair value on a recurring basis as of September 30, 2021 and 2020:

(in thousands)	September 30, 2021		September 30, 2020
Balance as of January 1,	$	—	$	29,789
Change in fair value	—		(3,878)
Balance as of September 30	$	—	$	25,911

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table sets forth the carrying amount and fair value of the New Term Loan and Senior Term Loan:

	September 30, 2021				December 31, 2020
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
New Term Loan, net	$	556,224	$	563,176	$	—	$	—
Senior Term Loan, net	—		—		449,165		441,742

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

The following table presents a reconciliation of the Company’s stock option liability measured and recorded at fair value on a recurring basis as of September 30, 2021 and 2020:

(in thousands)	2021		2020
Balance as of January 1 (1)	$	—	$	43,026
Settlement of stock options	—		(896)
Exercise of stock options	—		(235)
Change in fair value	—		(9,656)
Amortization of grant date fair value	—		5,422
Balance as of September 30	$	—	$	37,661

(1)    As of October 1, 2020, based on the Company’s intention and ability to equity-settle upon exercise, these stock options were classified as equity awards, and the liability associated with stock-based compensation award was reclassified to Additional paid-in capital.