| Summary of company's liabilities measured at fair value on a recurring basis |
The following fair value hierarchy table presents information about the Company’s liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021.
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March 31, 2022 |
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December 31, 2021 |
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Quoted Prices in Active Markets for Identical Assets
(Level 1) |
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Significant Other Observable Inputs
(Level 2) |
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Significant Unobservable Inputs
(Level 3) |
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Quoted Prices in Active Markets for Identical Assets
(Level 1) |
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Significant Other Observable Inputs
(Level 2) |
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Significant Unobservable Inputs
(Level 3) |
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Liabilities: |
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Debt (1) |
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$ |
1,998,452 |
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$ |
— |
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$ |
— |
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$ |
1,631,412 |
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$ |
— |
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$ |
— |
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Contingent purchase consideration |
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— |
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— |
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41,417 |
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— |
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— |
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42,053 |
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Total liabilities measured at fair value |
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$ |
1,998,452 |
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$ |
— |
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$ |
41,417 |
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$ |
1,631,412 |
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$ |
— |
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$ |
42,053 |
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(1) See Note 9, Debt.
There were no assets or liabilities that were transferred between fair value hierarchy levels during the three months ended March 31, 2022 or the year ended December 31, 2021.
The following is a reconciliation of the beginning and ending balances for the Level 3 liabilities measured at fair value:
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March 31, 2022 |
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March 31, 2021 |
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Contingent Purchase Consideration |
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Make-Whole Provision on Redeemable Preferred Units |
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Contingent Purchase Consideration |
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Total |
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Balance at beginning of period |
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$ |
42,053 |
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$ |
30,423 |
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$ |
22,096 |
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$ |
52,519 |
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Total (gains) losses included in earnings |
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(636 |
) |
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12,605 |
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676 |
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13,281 |
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Settlements |
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— |
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— |
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(2,100 |
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(2,100 |
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Balance at end of period |
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$ |
41,417 |
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$ |
43,028 |
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$ |
20,672 |
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$ |
63,700 |
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