XML 70 R45.htm IDEA: XBRL DOCUMENT v3.22.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy of Financial Instruments

The fair value hierarchy of financial instruments measured at fair value as of December 31, 2022 is provided below.

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets measured at fair value:

 

 

 

 

 

 

 

 

 

Derivative financial asset

 

 

 

 

 

17,321

 

 

 

 

 

 

$

—

 

 

 

17,321

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities measured at fair value:

 

 

 

 

 

 

 

 

 

Contingent consideration payable

 

 

 

 

 

 

 

$

27,146

 

Warrant liabilities

 

 

3,094

 

 

 

 

 

 

 

Liability for share-based compensation (1)

 

 

 

 

 

 

 

 

16,342

 

 

 

 

3,094

 

 

$

—

 

 

 

43,488

 

The fair value hierarchy of financial instruments measured at fair value as of December 31, 2021 is provided below.

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets measured at fair value:

 

 

 

 

 

 

 

 

 

Contingent consideration receivable

 

$

—

 

 

$

—

 

 

$

2,842

 

 

 

$

—

 

 

$

—

 

 

$

2,842

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities measured at fair value:

 

 

 

 

 

 

 

 

 

Contingent consideration payable (2)

 

$

—

 

 

$

—

 

 

$

29,689

 

Warrant liabilities (3)

 

 

32,275

 

 

 

3,300

 

 

 

—

 

Liability for shared-based compensation

 

 

—

 

 

 

—

 

 

 

10,024

 

 

 

$

32,275

 

 

$

3,300

 

 

$

39,713

 

 

(1)
Liability for share-based compensation relates to the share-based compensation awards modified in connection with the Transaction (Note 2) and certain performance awards to be issued in a variable number of shares (Note 16).
(2)
Excludes deferred consideration payable of $1,126 which is not a Level 3 financial instrument. The carrying value of deferred consideration payable approximates fair value.
(3)
Level 2 warrant liabilities represent the fair value of private warrants which is estimated using the price of the Company's public warrants.
Schedule of Fair Value Measurement Inputs and Valuation Techniques

The valuation techniques and significant unobservable inputs used in determining the fair value measurement of Level 3 financial instruments is set out in the table below. Other than this input, a reasonably possible change in one or more of the unobservable inputs listed below would not materially change the fair value of financial instruments listed below.

 

Financial instrument

 

Valuation technique used

 

Significant unobservable inputs

Contingent consideration payable

 

Discounted cashflow

 

Discount rate of 7%

Liability for share-based compensation

 

Market and income approach

 

Discount rate of 16.5%