FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2022

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 6.     FAIR VALUE MEASUREMENTS

The following tables present information about our assets and liabilities measured at fair value on a recurring basis.

		September 30, 2022
Description	Balance Sheet Classification	Level 1		Level 2			Level 3		Total Fair Value
Assets:
Certificates of deposit	Other current assets	$	—	$	2,120		$	—	$	2,120
Foreign currency forward contracts	Other current assets		—		208			—		208
Interest rate swaps	Deposits and other assets		—		16,113			—		16,113
Total assets measured at fair value on a recurring basis		$	—	$	18,441		$	—	$	18,441
Liabilities:
Contingent consideration	Other current liabilities	$	—	$	—	$		1,779	$	1,779
Total liabilities measured at fair value on a recurring basis		$	—	$	—		$	1,779	$	1,779
		December 31, 2021
Description	Balance Sheet Classification	Level 1		Level 2			Level 3		Total Fair Value
Assets:
Certificates of deposit	Other current assets	$	—	$	2,296		$	—	$	2,296
Interest rate swaps	Deposits and other assets		—		2,739			—		2,739
Total assets measured at fair value on a recurring basis		$	—	$	5,035		$	—	$	5,035
Liabilities:
Contingent consideration	Other current liabilities	$	—	$	—		$	1,738	$	1,738
Total liabilities measured at fair value on a recurring basis		$	—	$	—		$	1,738	$	1,738

The fair value of foreign currency forward contracts is based on the movement in the forward rates of foreign currency cash flows in which the hedging instrument is denominated. We determine the fair value of interest rate swaps by estimating the net present value of the expected cash flows based on market rates and associated yield curves, adjusted for non-performance credit risk, as applicable. See Note 7. Derivative Financial Instruments for additional information. The fair value of contingent consideration is determined by estimating the net present value of the expected cash flows based on the probability of expected payment. For all periods presented, there were no transfers into or out of Level 3.