Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Summary of Fair Value Measured at Fair Value on Recurring Basis

The following table presents financial liabilities measured at fair value on a recurring basis:

 

 

 

As of December 31, 2019

 

(in thousands)

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Contingent consideration arrangements

 

$

(118,700

)

 

$

-

 

 

$

-

 

 

$

(118,700

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2018

 

(in thousands)

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Contingent consideration arrangements

 

$

(716

)

 

$

-

 

 

$

-

 

 

$

(716

)
Summary of Contingent Consideration

The following table presents the balance of the contingent consideration arrangement liabilities at December 31, 2019, 2018 and 2017, respectively.

 

(in thousands)

 

Contingent

Consideration

Liabilities

 

Balance, December 31, 2017

 

$

 

(1,195

)

CEMP change in fair value measurement

 

 

 

37

 

CEMP year 3 earn-out payment

 

 

 

442

 

Balance, December 31, 2018

 

$

 

(716

)

CEMP change in fair value measurement

 

 

 

14

 

CEMP year 4 earn-out payment

 

 

 

702

 

USAA AMCO estimated liability as of closing date

 

 

 

(98,800

)

USAA AMCO change in fair value measurement

 

 

 

(19,900

)

Balance, December 31, 2019

 

$

 

(118,700

)