FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2016

FAIR VALUE MEASUREMENTS

14. FAIR VALUE MEASUREMENTS

The following tables present our assets and liabilities carried at fair value that are measured on a recurring basis:

		Total		Fair Value Measurements at December 31, 2016 Using
	Balance Sheet Location			Level 1		Level 2		Level 3
Assets:
Available-for-sale securities	Other assets	$	281	$	281		—		—
Derivative financial instruments	Other current assets	$	241		—	$	241		—
Liabilities:
Derivative financial instruments	Accrued expenses and other current liabilities	$	39		—	$	39		—
		Total		Fair Value Measurements at December 31, 2015 Using
	Balance Sheet Location			Level 1		Level 2		Level 3
Assets:
Available-for-sale securities	Other assets	$	254	$	254		—		—
Derivative financial instruments	Other current assets	$	1,249		—	$	1,249		—
Liabilities:
Derivative financial instruments	Accrued expenses and other current liabilities	$	7		—	$	7		—

The following is a description of the valuation techniques used for these assets and liabilities, as well as the level of input used to measure fair value:

Available-for-sale securities – these investments are exchange-traded equity securities. Fair values for these investments are based on closing stock prices from active markets and are therefore classified within Level 1 of the fair value hierarchy.

Derivative financial instruments – these derivatives are foreign currency forward contracts. See Note 13. Fair value is based on observable market inputs, such as forward rates in active markets; therefore, we classify these derivatives within Level 2 of the valuation hierarchy.

There were no transfers in or out of Level 1 and Level 2 during 2016 or 2015.