FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2014

Assets and Liabilities Recorded at Fair Value on a Recurring and Nonrecurring Basis

The following table represents the assets and liabilities, measured at fair value on a nonrecurring basis as of December 31, 2013 and the basis for that measurement (in thousands):



Assets:	Level 1		Level 2		Level 3		Total
Edelman Leather Tradename⁽¹⁾	$	—	$	—	$	17,150	$	17,150

(1) The Company estimated the fair value of the indefinite-life intangible asset using the relief-from-royalty method under the income approach. The Company used a royalty rate of 5% based on comparable market rates and used a discount rate of 12.7%.

The following table represents the assets and liabilities, measured at fair value on a recurring basis as of September 30, 2014 and the basis for that measurement (in thousands):



Liabilities:	Level 1		Level 2		Level 3		Total
Contingent purchase price payments related to the acquisition of HOLLY HUNT	$	—	$	—	$	16,000	$	16,000

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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