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ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Valuation methodologies used for assets measured at fair value
 
 
 
2015
 
Assets and Liabilities at Fair Value
 
Total
 
as of December 31, 2015
 
Gains
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(Losses)
Recurring Fair Value Measurement:
 
 
 
 
 
 
 
 
 
Liabilities:


 
 
 
 
 
 
 
 
  Second Priority Senior Secured Notes (1)
$
234,175

 
$

 
$
234,175

 
$

 
$

 
 
 
 
 
 
 
 
 
 
Non-recurring Fair Value Measurements:
 

 
 

 
 

 
 

 
 
Asset:
 
 
 
 
 
 
 
 
 
Intangible assets, net (2)
$
46,582

 
$

 
$

 
$
46,582

 
$

Goodwill (3)
$
86,784

 
$

 
$

 
$
86,784

 
$

(1) The fair value of the Company's senior secured notes was determined using the last market price transaction in the year ended December 31, 2015 of 100%.
(2) The fair values of intangibles relating to the 2012 acquisitions of TASS and Valent were determined by third parties in connection with the purchase and recorded at those values.
(3) The Company performed its annual impairment analysis of goodwill during the fourth quarter of 2015 and determined no adjustments to the carrying value were necessary.
 
 
 
2014
 
Assets and Liabilities at Fair Value
 
Total
 
as of December 31, 2014
 
Gains
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(Losses)
Recurring Fair Value Measurement:
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Interest rate derivatives (1)
$

 
$

 
$

 
$

 
$
(793
)
Second Priority Senior Secured Notes (2)
$
245,000

 
$

 
$

 
$
245,000

 
$

 
 
 
 
 
 
 
 
 
 
Non-recurring Fair Value Measurements:
 

 
 

 
 

 
 

 
 
Asset:
 
 
 
 
 
 
 
 
 
Intangible assets, net (3)
$
50,940

 
$

 
$

 
$
50,940

 
$

Goodwill (4)
$
86,784

 
$

 
$

 
$
86,784

 
$
(26,439
)


(1) In 2014, the Company terminated and settled its interest rate derivatives in conjunction with the settlement of its then existing credit agreement.

(2) The Company's senior secured notes were outstanding but not registered at December 31, 2014. Using a qualitative approach, the Company determined the fair value of the notes at December 31, 2014 was equal to the amount for which they were issued.
(3) The fair values of intangibles relating to the 2012 acquisitions of TASS and Valent were determined by third parties in connection with the purchase and recorded at those values.
(4) During the fourth quarter of 2014, the Company performed its annual impairment analysis of goodwill. As a result of the analysis, the goodwill related to the Engineering Services reporting unit was deemed impaired, and a $26,439 impairment charge was recorded in the Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2014.