Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.21.1
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis Our financial liabilities measured at fair value on a recurring basis were as follows at December 31, 2020 and 2019:
Consolidated
Balance Sheet Caption
Fair Value at December 31, 2020
(in thousands) Level 1 Level 2 Level 3 Total
Liabilities:
Interest rate swap contract Other long-term liabilities $ —  $ 665  $ —  $ 665 
Total Liabilities $ —  $ 665  $ —  $ 665 

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 December 31, 2020, which is a pay fixed and receive floating contract, is as follows:
Swap Maturity Notional Value
(in thousands)
Pay Fixed Rate Receive Floating Rate Floating Rate
Reset Terms
October 1, 2025 $ 8,125  2.0775  % 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 years ended December 31, 2020 and 2019 is as follows:
(in thousands) Conscious Wholesale Contingent Consideration Convertible Notes
Balance at December 31, 2018 $ —  $ 40,200 
Convertible notes issued in January 2019 —  8,050 
Contingent consideration issued in September 2019 1,609  — 
Total (gains) losses in fair value included in results of operations (41) 12,063 
Conversion of convertible debt to Class A common stock —  (60,313)
Balance at December 31, 2019 1,568  — 
Foreign currency translation adjustments (14) — 
Payment for contingent consideration (835) — 
Total gains in fair value included in results of operations (719) — 
Balance at December 31, 2020 $ —  $ —