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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following table summarizes the fair value of the Company’s financial assets and liabilities that are measured on a recurring basis as of June 30, 2015 (in thousands):

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable equity securities

 

$

585

 

 

$

 

 

$

 

 

$

585

 

Foreign exchange forward contracts

 

 

 

 

2,325

 

 

 

 

 

2,325

 

Total

 

$

585

 

 

$

2,325

 

 

$

 

 

$

2,910

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange forward contracts

 

$

 

 

$

571

 

 

$

 

 

$

571

 

Interest rate swaps

 

 

 

 

1,832

 

 

 

 

 

1,832

 

Contingent consideration

 

 

 

 

 

 

7,338

 

 

 

7,338

 

Total

 

$

 

 

$

2,403

 

 

$

7,338

 

 

$

9,741

 

 

Changes in Level 3 Financial Assets and Liabilities Measured on Recurring Basis

The following table summarizes the changes in Level 3 financial assets and liabilities measured on a recurring basis for the three months ended June 30 (in thousands):

 

 

 

Contingent Consideration –

Accounts Payable and Accrued

Expenses and Other Liabilities

 

 

 

2015

 

 

2014

 

Balance as of January 1

 

$

1,452

 

 

$

13,014

 

Revaluations included in earnings

 

 

5,886

 

 

 

186

 

Balance as of June 30

 

$

7,338

 

 

$

13,200