Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurement of Assets and Liabilities on a Recurring Basis

The following tables provide the financial assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2020 and 2019 using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 refers to fair values estimated using significant non-observable inputs. An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.


	Fair Value Measurements at December 31, 2020
	Total		Level 1		Level 2		Level 3
	(In thousands)


Liabilities
Liabilities associated with interest rate swap and cap contracts	$	(50,910)	$	—	$	(50,910)	$	—

Liabilities associated with acquisition related contingent consideration	$	(9,490)	$	—	$	—	$	(9,490)


	Fair Value Measurements at December 31, 2019
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Assets associated with interest rate swap and cap contracts	$	10,638	$	—	$	10,638	$	—
Liabilities
Liabilities associated with interest rate swap and cap contracts	$	(17,420)	$	—	$	(17,420)	$	—
Liabilities associated with foreign currency forward contracts	$	(7,868)	$	—	$	(7,868)	$	—
Liabilities associated with acquisition related contingent consideration	$	(16,851)	$	—	$	—	$	(16,851)