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Fair value measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Nonrecurring fair value measurements Information regarding these nonrecurring asset impairment analyses completed during 2017 was as follows:
 
 
 
 
Fair value measurements using
 
 
 
 
Fair value as of
measurement date
 
Quoted prices in active markets for identical assets
 
Significant other observable inputs
 
Significant unobservable inputs
 
Asset impairment charge
(in thousands)
 
 
(Level 1)
 
 (Level 2)
 
(Level 3)
 
Trade name
 
$

 
$

 
$

 
$

 
$
14,752

Assets held for sale
 
3,500

 

 

 
3,500

 
8,250

Other
 

 

 

 

 
3,499

Total
 
 
 
 
 
 
 
 
 
$
26,501


Change in accrued contingent consideration Changes in accrued contingent consideration were as follows:
(in thousands)
 
2017
 
2016
 
2015
Balance, beginning of year
 
$
4,682

 
$
5,861

 
$
409

Acquisition date fair value
 

 
1,132

 
5,575

Change in fair value
 
1,190

 
(1,174
)
 
187

Payments
 
(2,249
)
 
(1,137
)
 
(310
)
Balance, end of year
 
$
3,623

 
$
4,682

 
$
5,861


Gain (loss) from derivative instruments The swaps met the criteria for using the short-cut method for a fair value hedge based on the structure of the hedging relationship. As such, the changes in the fair value of the derivative and the related long-term debt were equal and were as follows:
(in thousands)
 
2016
 
2015
Gain from derivatives
 
$
1,200

 
$
3,225

Loss from change in fair value of hedged debt
 
(1,200
)
 
(3,225
)
Net effect on interest expense
 
$

 
$

Recurring fair value measurements Information regarding recurring fair value measurements completed during each period was as follows:
 
 
 
 
Fair value measurements using
 
 
Fair value as of
December 31, 2017
 
Quoted prices in active markets for identical assets
 
Significant other observable inputs
 
Significant unobservable inputs
(in thousands)
 
 
(Level 1)
 
 (Level 2)
 
(Level 3)
Cash equivalents (funds held for customers)
 
$
17,300

 
$
17,300

 
$

 
$

Available-for-sale marketable securities (funds held for customers)
 
16,613

 

 
16,613

 

Accrued contingent consideration
 
(3,623
)
 

 

 
(3,623
)
 
 
 
 
Fair value measurements using
 
 
Fair value as of
December 31, 2016
 
Quoted prices in active markets for identical assets
 
Significant other
observable inputs
 
Significant unobservable inputs
(in thousands)
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
Cash equivalents (funds held for customers)
 
$
6,002

 
$
6,002

 
$

 
$

Available-for-sale marketable securities (funds held for customers)
 
15,532

 

 
15,532

 

Accrued contingent consideration
 
(4,682
)
 

 

 
(4,682
)
Fair value measurements of other financial instruments The estimated fair values of these financial instruments were as follows:
 
 
 
 
Fair value measurements using
 
 
December 31, 2017
 
Quoted prices in active markets for identical assets
 
Significant other observable inputs
 
Significant unobservable inputs
(in thousands)
 
Carrying value
 
Fair value
 
(Level 1)
 
(Level 2)
 
(Level 3)
Cash
 
$
59,240

 
$
59,240

 
$
59,240

 
$

 
$

Cash (funds held for customers)
 
52,279

 
52,279

 
52,279

 

 

Loans and notes receivable from Safeguard distributors
 
46,409

 
44,650

 

 

 
44,650

Long-term debt(1)
 
707,386

 
707,938

 

 
707,938

 


(1) Amounts exclude capital lease obligations.
 
 
 
 
Fair value measurements using
 
 
December 31, 2016
 
Quoted prices in active markets for identical assets
 
Significant other observable inputs
 
Significant unobservable inputs
(in thousands)
 
Carrying value
 
Fair value
 
(Level 1)
 
(Level 2)
 
(Level 3)
Cash
 
$
76,574

 
$
76,574

 
$
76,574

 
$

 
$

Cash (funds held for customers)
 
66,289

 
66,289

 
66,289

 

 

Loans and notes receivable from Safeguard distributors
 
23,278

 
21,145

 

 

 
21,145

Long-term debt(1)
 
756,963

 
758,000

 

 
758,000

 



(1) Amounts exclude capital lease obligations.