Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.20.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis Our financial instruments measured at fair value on a recurring basis were as follows at the dates indicated:
Condensed Consolidated
Balance Sheet Caption
Fair Value at March 31, 2020
(in thousands) Level 1 Level 2 Level 3 Total
Liabilities:
Interest rate swap contract Other long-term liabilities $ —    $ 699    $ —    $ 699   
Contingent consideration Accrued expenses and other current liabilities —    —    922    922   
Total Liabilities $ —    $ 699    $ 922    $ 1,621   

Condensed Consolidated
Balance Sheet Caption
Fair Value at December 31, 2019
(in thousands) Level 1 Level 2 Level 3 Total
Liabilities:
Interest rate swap contract Other long-term liabilities $ —    $ 206    $ —    $ 206   
Contingent consideration Accrued expenses and other current liabilities —    —    1,568    1,568   
Total Liabilities $ —    $ 206    $ 1,568    $ 1,774   
Schedule of Interest Rate Derivatives
Details of the outstanding swap contract as of March 31, 2020, which is a pay fixed and receive floating contract, are as follows:

Swap Maturity Notional Value
(in thousands)
Pay Fixed Rate Receive Floating Rate Floating Rate
Reset Terms
October 1, 2025 $ 8,255    2.07750  % One-Month LIBOR Monthly
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
A reconciliation of our liabilities that are measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2020 is as follows:
(in thousands) Conscious Wholesale Contingent Consideration
Balance at December 31, 2019 $ 1,568   
Foreign currency translation adjustments (31)  
Gains from fair value adjustments included in results of operations (615)  
Balance at March 31, 2020 $ 922