Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.10.0.1
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of changes in fair value of the Company’s financial assets and liabilities measured at fair value
The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017, based on the three-tier fair value hierarchy.
 
 
 
September 30, 2018
 
 
Fair Value
 
Level I
 
Level II
 
Level III
Assets
 
 
 
 
 
 
 
 
Money market funds and other (1)
 
$
119,276

 
$
119,276

 
$

 
$

Assets to fund deferred compensation liability(2)
 
6,879

 

 

 
6,879

Total assets
 
$
126,155


$
119,276


$


$
6,879

Liabilities
 
 

 
 

 
 

 
 

Contingent consideration
 
$
719

 
$

 
$

 
$
719

Deferred compensation liability(3)
 
6,388

 
6,388

 

 

Total liabilities
 
$
7,107


$
6,388


$


$
719


 
 
December 31, 2017
 
 
Fair Value
 
Level I
 
Level II
 
Level III
Assets
 
 
 
 
 
 
 
 
Money market funds(1)
 
$
39,400

 
$
39,400

 
$

 
$

Assets to fund deferred compensation liability(2)
 
5,185

 

 

 
5,185

Total assets
 
$
44,585


$
39,400


$


$
5,185

Liabilities
 
 

 
 

 
 

 
 

Contingent consideration
 
$
2,781

 
$

 
$

 
$
2,781

Deferred compensation liability(3)
 
4,364

 
4,364

 

 

Total liabilities
 
$
7,145


$
4,364


$


$
2,781

 
(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 and time deposit accounts which mature on a daily basis.

(2)
The fair value of assets to fund deferred compensation liability approximates the cash surrender value of the life insurance premiums and is included in other non-current assets in the condensed consolidated balance sheets.

(3)
The deferred compensation liability is included in other non-current liabilities in the condensed consolidated balance sheets and its fair market value is based on the daily quoted market prices for the net asset values of the various funds in which the participants have selected.
Summary of changes in the fair value of the Company's Level 3 assets
The table below presents a reconciliation of the assets to fund deferred compensation liability of which the Company measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2017 to September 30, 2018:

 
Fair Value of
 
Assets to Fund
 
Deferred
 
Compensation
 
Liability
Balance at December 31, 2017
$
5,185

Contributions and fair value adjustments
1,694

Balance at September 30, 2018
$
6,879

Summary of changes in the fair value of the Company's Level 3 liability
The table below presents a reconciliation of contingent consideration liabilities of which the Company measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2017 to September 30, 2018:
 
 
Fair Value of
 
Contingent
 
Consideration
 
Liabilities
Balance at December 31, 2017
$
2,781

Payment of contingent consideration liability
(2,193
)
Accretion on contingent consideration
131

Balance at September 30, 2018
$
719