Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the valuation of the Company’s financial assets and liabilities as of December 31, 2022 and 2021 measured at fair value on a recurring basis. The fair value estimates presented herein are based on information available to management as of December 31, 2022 and 2021. These estimates are not necessarily indicative of the amounts the Company could ultimately realize.

(in thousands)	Level 1		Level 2		Level 3
December 31, 2022
Assets
Interest rate swap agreements-short term	$	—	$	5,748	$	—
Interest rate swap agreements-long term	—		3,728		—
Total assets measured at fair value	$	—	$	9,476	$	—
Liabilities
Acquisition-related contingent consideration-short term	$	—	$	—	$	7,500
Warrant liability	—		—		38,503
Total liabilities measured at fair value	$	—	$	—	$	46,003

(in thousands)	Level 1		Level 2		Level 3
December 31, 2021
Assets
Money market accounts	$	14	$	—	$	—
Total assets measured at fair value	$	14	$	—	$	—
Liabilities
Acquisition-related contingent consideration-short term	$	—	$	—	$	13,500
Acquisition-related contingent consideration-long term	—		—		6,800
Interest rate swap agreements-short term	—		5,098		—
Interest rate swap agreements-long term	—		2,359		—
Warrant liability	—		—		57,764
Total liabilities measured at fair value	$	—	$	7,457	$	78,064

Reconciliation of contingent consideration liabilities

A reconciliation of the Company’s contingent consideration liabilities related to acquisitions for the years ended December 31, 2022 and 2021 is as follows (in thousands):

Year Ended December 31 2022	Beginning Balance		Additions		Payments		Change in Fair Value		Other activity		Ending Balance
Contingent consideration - Level 3 liabilities	$	20,300	$	—	$	(15,015)	$	2,215	$	—	$	7,500
Year Ended December 31 2021	Beginning Balance		Additions		Payments		Change in Fair Value		Other activity		Ending Balance
Contingent consideration - Level 3 liabilities	$	33,540	$	7,800	$	(20,347)	$	(866)	$	173	$	20,300

A reconciliation of the changes in the contingent consideration common shares liability related to the Contingent Consideration Common Shares during the years ended December 31, 2021 and 2020 was as follows (in thousands):

Estimated fair value of contingent consideration common shares liability at December 31, 2019	$	9,316
Change in estimated fair value of the contingent consideration common shares liability	98,717
Reclassification of contingent consideration common shares liability to equity	(37,556)
Estimated fair value of contingent consideration common shares liability at December 31, 2020	70,477
Change in estimated fair value of the contingent consideration common shares liability	(29,389)
Reclassification of contingent consideration common shares liability to equity	(41,088)
Estimated fair value of contingent consideration common shares liability at December 31, 2021	$	—

Summary of non-financial assets measured on a non-recurring basis

The following table presents the Company’s hierarchy for non-financial assets measured at fair value on a non-recurring basis (in thousands):

	December 31, 2022		December 31, 2021
Assets:
Goodwill (Level 3)	$	3,545,297	$	3,512,567
Identifiable intangible assets, net (Level 3)	$	162,773	$	202,231