Annual report [Section 13 and 15(d), not S-K Item 405]

Fair Value Measurement (Tables)

v3.25.0.1
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Changes in Fair Value by Balance Sheet Grouping
The following table presents the input level used to determine the fair values of our financial instruments measured at fair value on a recurring basis:
Fair Value as of December 31,
Level 2024 2023
Assets
Interest rate swap instruments 2 $ 5,096  $ 3,970 
Liabilities
Interest rate swap instruments 2 $ —  $ 629 
Make-whole provisions 2 15,574  6,012 
Contingent consideration 3 1,614  1,465 
Total liabilities $ 17,188  $ 8,106 
Subsequent Key Assumptions
The balances and subsequent key assumptions used in the model were as follows:
At December 31,
2024 2023
Balance of remaining contingent consideration $ 1,614  $ 1,465 
Risk-adjusted discount rate 16.9  % 16.9  %
Estimated EBITDA volatility 70.0  % 70.0  %
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table sets forth a summary of changes in the fair value of contingent consideration liabilities classified as level 3:
Year Ended December 31,
2024 2023
Contingent consideration liabilities balance at the beginning of year $ 1,465  $ 4,158 
Changes in fair value included in earnings 149  347 
Payment of contingent consideration —  (3,040)
Contingent consideration liabilities balance at the end of year $ 1,614  $ 1,465 
Fair Value and Carrying Value of Long-Term Debt
The following table sets forth the fair value and the carrying value of our long-term debt, excluding financing leases:
December 31, 2024 December 31, 2023
  Fair Value Carrying Value Fair Value Carrying Value
Long-term debt value (level 2) $ 1,618,208  $ 1,620,359  $ 1,466,458  $ 1,478,394