Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.6.0.2
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Measurements  
Schedule of changes in fair value of the Company’s financial assets and liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

   

At December 31, 2016

   

Fair Value

   

Level I

   

Level II

 

Level III

Assets

 

   

 

   

 

 

 

 

Money market funds(1)

$

31,644

   

$

31,644

   

$

 

$

Deferred compensation asset(2)

 

2,738

 

 

 

 

 

 

2,738

Total assets

$

34,382

   

$

31,644

   

$

 

$

2,738

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

4,868

 

 

 

 

 

 

4,868

Deferred compensation liability(3)

 

2,885

 

 

2,885

 

 

 

 

Total liabilities

$

7,753

 

$

2,885

 

$

 

$

4,868

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2015

   

Fair Value

   

Level I

   

Level II

 

Level III

Assets

 

   

 

   

 

 

 

 

Money market funds(1)

$

24,422

   

$

24,422

   

$

 

$

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

4,043

 

 

 

 

 

 

4,043

Foreign currency forward contracts(4)

 

140

   

 

   

 

140

 

 

Total liabilities

$

4,183

 

$

 

$

140

 

$

4,043

(1)

The fair values of the Company’s investments in money-market funds are based on the daily quoted market prices for the net asset value of the various money market funds.

(2)

The deferred compensation asset fair value is based upon the cash surrender value of the life insurance premiums. The Company recognized gains of $66 within the statements of operations for the year ended December 31, 2016.

(3)

The deferred compensation liability is included in other non-current liabilities in the consolidated balance sheets and its fair market value is based on the daily quoted market prices for the net asset value of the various funds in which the participants have selected.

(4)

Included in prepaid and other current assets in the consolidated balance sheets.

 

Summary of changes in the fair value of the Company's Level 3 liability

 

 

 

 

 

 

Fair Value of

 

 

Contingent

 

 

Consideration

 

 

Liabilities

Balance at December 31, 2015

 

$

4,043

Settlement of contingent consideration liabilities

 

 

(3,729)

FinaConnect acquisition

 

 

1,929

Wheelhouse acquisition

 

 

2,582

Reclassification to definite consideration

 

 

(1,695)

Fair market value adjustments, net

 

 

1,588

Accretion on contingent consideration

 

 

150

Balance at December 31, 2016

 

$

4,868