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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of fair value
The fair value of the Company’s financial assets and liabilities that are required to be measured on a recurring basis at fair value was as follows (in thousands):
 
 
 
December 31, 2016
 
December 31, 2015
 
 
Fair Value Measurements Using
 
Fair Value Measurements Using
 
 
Level 1
Level 2
 
Level 3
 
Level 1
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
 
 
 
Short-term investments (1)
 
$
4,026

—

 
—

 
—

—

 
—

Interest rate swap agreements
 
—

$
3

 
—

 
—

$
692

 
—

Embedded derivative in lease agreement
 
—

—

 
$
13,290

 
—

—

 
$
14,176

Liabilities:
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements
 
—

$
24,682

 
—

 
—

—

 
—

Acquisition-related contingent consideration
 
—

—

 
$
15,444

 
—

—

 
$
12,436


_______________
(1)
Consists of highly liquid investments with original maturities in excess of three months.
Schedule of derivative financial instruments
The notional amount and fair value of the Colombian interest rate swap agreements were as follows as of December 31, (in thousands): 
 
2016
 
2015
 
Local
USD
 
Local
USD
Colombia (COP) (1)
 
 
 
 
 
Notional
85,000,000

$
28,327

 
95,000,000

$
30,164

Fair Value
8,763

3

 
2,179,374

692

_______________
(1)
As of December 31, 2016 and 2015, the interest rate swap agreement in Colombia was included in Notes receivable and other non-current assets on the consolidated balance sheet.
Schedule of contingent consideration changes
The changes in fair value of the contingent consideration were as follows during the years ended December 31, (in thousands):
 
 
2016
 
2015
Balance as of January 1
$
12,436

 
$
28,524

Additions
8,811

 
1,626

Settlements
(306
)
 
(7,943
)
Change in fair value
(6,372
)
 
(4,781
)
Foreign currency translation adjustment
875

 
(4,990
)
Balance as of December 31
$
15,444

 
$
12,436