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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Measurements  
Liabilities measured at fair value on a recurring basis

A summary of the Company’s liabilities measured at fair value on a recurring basis is as follows (in thousands):

As of June 30, 2021

As of December 31, 2020

Fair Value

    

Level 1

    

Level 2

    

Level 3

Fair Value

    

Level 1

    

Level 2

    

Level 3

Liabilities

Motto contingent consideration

$

5,000

$

$

$

5,000

$

4,750

$

$

$

4,750

Gadberry contingent consideration

1,350

1,350

1,590

1,590

Contingent consideration (a)

$

6,350

$

$

$

6,350

$

6,340

$

$

$

6,340

(a)Recorded as a component of “Accrued liabilities” and “Other liabilities, net of current portion” in the accompanying Condensed Consolidated Balance Sheets.
Reconciliation of the contingent consideration

The table below presents a reconciliation of the contingent consideration (in thousands):

Total

Balance at January 1, 2021

$

6,340

Fair value adjustments

10

Balance at June 30, 2021

$

6,350

Summary of carrying value and fair value of senior secured credit facility

The following table summarizes the carrying value and estimated fair value of the Senior Secured Credit Facility (in thousands):

June 30, 2021

December 31, 2020

Carrying
Amount

    

Fair Value
Level 2

    

Carrying
Amount

    

Fair Value
Level 2

Senior Secured Credit Facility

$

222,567

$

223,278

$

223,487

$

223,887