Corsair Gaming, Inc. Fair Value Disclosure
3. Fair Value Measurement
The balances of our financial assets that were measured at fair value on a recurring basis as of December 31, 2023 and 2022 were not material. The following tables summarize the balances of our financial liabilities (in thousands) that were measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:
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December 31, 2023 |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Total |
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Liabilities: |
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Foreign currency forward contracts(1) |
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$ |
— |
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$ |
690 |
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$ |
— |
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$ |
690 |
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Total liabilities |
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$ |
— |
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$ |
690 |
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$ |
— |
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$ |
690 |
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December 31, 2022 |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Total |
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Liabilities: |
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Deferred cash consideration in connection with a business acquisition—SCUF(2) |
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$ |
— |
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$ |
— |
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$ |
954 |
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$ |
954 |
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Foreign currency forward contracts(1) |
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— |
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484 |
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— |
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484 |
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Total liabilities |
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$ |
— |
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$ |
484 |
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$ |
954 |
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$ |
1,438 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2023 | Feb 27, 2024 | Showing above |
| 2022 | Feb 27, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 11, 2021 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.