FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2019

The following table provides a summary of the recognized assets and liabilities that are measured at fair value on a recurring basis:



			Basis of Fair Value Measurements
			Quoted Prices in Active Markets for Identical Assets / Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
June 30, 2019	Total		Level 1		Level 2		Level 3
Assets:
Trading securities	$	56	$	56	$	—	$	—
Cash surrender value of life insurance policies	40		—		40		—
Total	$	96	$	56	$	40	$	—

Liabilities:
Deferred compensation liabilities	$	104	$	—	$	104	$	—
Interest rate swaps	37		—		37		—
Contingent consideration	13		—		—		13
Total	$	154	$	—	$	141	$	13

Redeemable noncontrolling interest	$	76	$	—	$	—	$	76



			Basis of Fair Value Measurements
December 31, 2018	Total		Level 1		Level 2		Level 3
Assets:
Trading securities	$	53	$	53	$	—	$	—
Cash surrender value of life insurance policies	34		—		34		—
Total	$	87	$	53	$	34	$	—

Liabilities:
Deferred compensation liabilities	$	96	$	—	$	96	$	—
Interest rate swaps	93		—		93		—
Contingent consideration	14		—		—		14
Total	$	203	$	—	$	189	$	14

Redeemable noncontrolling interest	$	77	$	—	$	—	$	77

In connection with previous business acquisitions, the Company has contingent consideration obligations that are to be paid based on the achievement of certain testing volume or revenue benchmarks. These contingent consideration liabilities are measured at fair value using an option-pricing method and are classified within Level 3 of the fair value hierarchy as the fair value is determined based on significant inputs that are not observable. Significant inputs include management’s estimate of volume or revenue and other market inputs including comparable company revenue volatility and a discount rate. A summary of the significant inputs is as follows:



Business Acquisition	Fair Value of Contingent Consideration		Benchmark	Comparable Company Revenue Volatility		Discount rate		Maximum Contingent Consideration Payment

Certain assets of the clinical and anatomic pathology laboratory business of Shiel Holdings, LLC ("Shiel") in December 2017	$	7	Volume	6.9	%	4.5	%	$	15
Certain assets of the clinical laboratory services business of Boyce & Bynum in February 2019	$	6	Volume	8.0	%	7.2	%	$	25
ReproSource, Inc. in September 2018	$	—	Revenue	8.5	%	6.5	%	$	10

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the beginning and ending balances of liabilities using significant unobservable inputs (Level 3):



	Contingent Consideration

Balance, December 31, 2018	$	14
Purchases, additions and issuances	6
Settlements	(1		)
Total gains/losses included in earnings - realized/unrealized	(6		)
Balance, June 30, 2019	$	13