Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 and the level they fall within the fair value hierarchy (in thousands):

Amounts Recorded at Fair Value	Financial Statement Classification	Fair Value Hierarchy	Fair Value September 30, 2014		Fair Value December 31, 2013
Non-COLI assets held in DSC Plan	Other assets	Level 1	$	238	$	198
Interest rate swaps	Accrued expenses	Level 2		-	$	326
Earn-out obligation - current	Current portion of earn-out obligations	Level 3	$	9,154		-
Earn-out obligation - long-term	Earn-out obligations	Level 3		-	$	9,062

Fair Value Reconciliation, Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balance of the earn-out obligations measured at fair value on a recurring basis that used significant unobservable inputs (Level 3).

	Current portion		Long-term portion			Total
Balance as of December 31, 2013	$	-	$	9,062		$	9,062
Earn-out payments		-		(2,666	)		(2,666	)
Fair value adjustment included in earnings		-		2,758			2,758
Reclassification from long-term to short-term		9,154		(9,154	)		-
Balance as of September 30, 2014	$	9,154		-		$	9,154

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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