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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Measurement of Financial Assets and Liabilities at Fair Value on Recurring Basis

The Company has segregated all assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below (in thousands):

 

 

 

December 31, 2016

 

 

December 31, 2015

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

134,929

 

 

$

 

 

$

 

 

$

113,329

 

 

$

 

 

$

 

Investments held through variable insurance

   products in a Rabbi Trust

 

 

 

 

 

23,475

 

 

 

 

 

 

 

 

 

20,234

 

 

 

 

Available-for-sale securities

 

 

 

 

 

 

 

 

4,859

 

 

 

 

 

 

 

 

 

3,463

 

Forward currency contracts

 

 

 

 

 

20

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward currency contracts

 

$

 

 

$

11

 

 

$

 

 

$

 

 

$

179

 

 

$

 

 

Schedule of Changes to Fair Values Classified within Level 3

Changes to the fair values classified within Level 3 were as follows in 2016 (in thousands):

 

Beginning of year

$

3,463

 

Available-for-sale securities acquired

 

2,650

 

Available-for-sale securities converted/disposed

 

(1,588

)

Total gains recognized

 

334

 

End of year

$

4,859