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Fair Value Measures and Disclosures (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation The following tables provide a reconciliation of the Level 3 earn-out liabilities measured at estimated fair value (in thousands):
Pursuit
Earn-out Liability
Accrued balance, January 1, 2020$17,300  
Change in fair value of earn-out (included in income from operations as a separate line item)—  
Accrued balance, March 31, 2020$17,300  
Change in fair value of earn-out (included in income from operations as a separate line item)2,700  
Accrued balance, June 30, 2020$20,000  

HIS
Earn-out Liability
Accrued balance, January 1, 2019$47,400  
Change in fair value of earn-out (included in income from operations as a separate line item)(7,700) 
Accrued balance, March 31, 2019$39,700  
Change in fair value of earn-out (included in income from operations as a separate line item)(39,500) 
Accrued balance, June 30, 2019$200  
        
The fair value of the Pursuit earn-out increased at June 30, 2020 from the fair value calculated at December 31, 2019 primarily due to changes in the probabilities within the valuation model.
Fair Value Measurement Inputs and Valuation Techniques The following tables provide quantitative information about Level 3 inputs for fair value measurement of our earn-out liabilities:
Pursuit Earn-out
Simulation InputAs of
June 30, 2020		At Acquisition November 2, 2019
Revenue/Gross Profit Volatility30.00 %20.00 %
Discount Rate12.50 %15.00 %
Risk Free Rate0.16 %1.55 %
Counter Party Risk6.30 %6.00 %

HIS Earn-out
Simulation InputAs of
June 30, 2019		As of
December 31, 2018
Adjusted EBITDA Volatility30.00 %30.00 %
WACC8.25 %8.25 %
20-year risk free rate2.31 %2.87 %
Market price of risk5.77 %5.24 %
Cost of debt4.13 %5.25 %
Fair Value, by Balance Sheet Grouping Our assets and liabilities measured at fair value on a recurring basis consisted of the following (Level 1, 2 and 3 inputs as defined above) (in thousands):
 Fair value measurements at June 30, 2020
 Total carrying
value		Quoted prices
in active
markets for
identical
assets (level 1)		Significant
other
observable
inputs (level 2)		Significant
unobservable
inputs (level 3)
Assets:
Available for sale securities:
Short-term$14,564  $—  $14,564  $—  
Foreign exchange forwards:
Other assets38  —  38  —  
Total Assets$14,602  $—  $14,602  $—  
Liabilities:
Earn-out liability$20,000  $—  $—  $20,000  
Foreign exchange forwards:
Accrued liabilities75  —  75  —  
Total Liabilities$20,075  $—  $75  $20,000  
 Fair value measurements at December 31, 2019
 Total carrying
value		Quoted prices
in active
markets for
identical
assets (level 1)		Significant
other
observable
inputs (level 2)		Significant
unobservable
inputs (level 3)
Assets:
Available for sale securities:
Short-term$23,967  $—  $23,967  $—  
Foreign exchange forwards:
Prepaid expenses and other current assets2,366  —  2,366  —  
Total Assets$26,333  $—  $26,333  $—  
Liabilities:
Earn-out liability$17,300  $—  $—  $17,300  
Total Liabilities$17,300  $—  $—  $17,300