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Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis:

 

 

 

 

 

 

 

Fair value measurements using:

 

 

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

4,900

 

 

 

 

 

 

 

 

$

4,900

 

Long-term liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

262,368

 

 

 

 

 

 

 

 

$

262,368

 

December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

189,031

 

 

$

189,031

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

10,000

 

 

 

 

 

 

 

 

$

10,000

 

Long-term liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

96,000

 

 

 

 

 

 

 

 

$

96,000

 

 

Schedule of Roll-forward of Fair Value of Level 3 Instruments

The following table includes a roll-forward of the fair value of Level 3 financial instruments for the year ended December 31, 2015:

 

 

 

Year Ended

December 31, 2015

 

Contingent consideration (current and long-term):

 

 

 

 

Balance at beginning of period

 

$

106,000

 

Amounts acquired or issued

 

 

171,942

 

Net change in fair value

 

 

(10,674

)

Settlements

 

 

 

Transfers in and/or out of Level 3

 

 

 

Balance at end of period

 

$

267,268

 

 

Fair Value of Other Financial Instruments Not Measured on Recurring Basis

The following table presents the total balance of the Company’s other financial instruments that are not measured at fair value on a recurring basis.

 

 

 

 

 

 

 

Fair value measurements using:

 

 

 

Total Balance

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank deposits (included in “Cash and cash

   equivalents”)

 

$

225,853

 

 

$

225,853

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under Revolving Credit Facility

 

$

75,000

 

 

$

75,000

 

 

 

 

 

 

 

December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank deposits (included in “Cash and cash

   equivalents”)

 

$

313,646

 

 

$

313,646

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Convertible Notes

 

$

359,219

 

 

 

 

 

$

359,219