Fair Value Measurement (Tables)

6 Months Ended

Jun. 28, 2015

Fair Value Measurements

Summary of Financial Liability Measured at Fair Value on a Recurring Basis

The table below summarizes CTS’ financial liability that was measured at fair value as of three month period June 28, 2015 and the loss recorded during the six month period ended June 28, 2015:  

			Quoted
			Prices
			in Active		Significant
	Carrying		Markets for		Other		Significant		Loss for
	Value at		Identical		Observable		Unobservable		Six Months Ended
	June 28,		Instruments		Inputs		Inputs		June 28,
($ in thousands)	2015		(Level 1)		(Level 2)		(Level 3)		2015
Interest rate swap – cash flow hedge	$	1,047	$	—	$	1,047	$	—	$	27

The table below summarizes the financial liability that was measured at fair value on a recurring basis as of December 31, 2014 and the loss recorded during the year ended December 31, 2014:

			Quoted
			Prices
			in Active		Significant
	Carrying		Markets for		Other		Significant		Loss for
	Value at		Identical		Observable		Unobservable		Year Ended
	December 31,		Instruments		Inputs		Inputs		December 31,
($ in thousands)	2014		(Level 1)		(Level 2)		(Level 3)		2014
Interest rate swap – cash flow hedge	$	1,020	$	—	$	1,020	$	—	$	488

Reconciliation of Recurring Financial Liability Related to Interest Rate Swaps

	Interest
($ in thousands)	Rate Swaps
Balance at January 1, 2014	$	(998)
Total gains (losses) for the period:
Included in earnings		488
Included in other comprehensive earnings		(510)
Balance at December 31, 2014	$	(1,020)
Total gains (losses) for the period:
Included in earnings		382
Included in other comprehensive earnings		(409)
Balance at June 28, 2015	$	(1,047)