Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023 and December 31, 2022 measured at fair value on a recurring basis. The fair value estimates presented herein are based on information available to management as of September 30, 2023 and December 31, 2022. These estimates are not necessarily indicative of the amounts the Company could ultimately realize.

(in thousands)	Level 1		Level 2		Level 3
September 30, 2023
Assets
Interest rate swap agreements-short term	$	—	$	6,340	$	—
Interest rate swap agreements-long term	—		4,147		—
Total assets measured at fair value	$	—	$	10,487	$	—
Liabilities
Acquisition-related contingent consideration-short term	$	—	$	—	$	7,850
Warrant liability	—		—		6,617
Total liabilities measured at fair value	$	—	$	—	$	14,467

(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

Reconciliation of contingent consideration liabilities

A reconciliation of the Company’s contingent consideration liabilities related to acquisitions for the nine months ended September 30, 2023 and 2022 is as follows (in thousands):

Nine Months Ended September 30, 2023	Beginning Balance		Payments		Change in Fair Value		Ending Balance
Contingent consideration - Level 3 liabilities	$	7,500	$	—	$	350	$	7,850
Nine Months Ended September 30, 2022
Contingent consideration - Level 3 liabilities	$	20,300	$	(6,250)	$	477	$	14,527