Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial liabilities measured at fair value on a recurring basis:

(In Thousands)	March 31, 2016							December 31, 2015
	Level 1		Level 2			Level 3		Level 1		Level 2			Level 3
Deferred Compensation Liability	$	—	$	(11,587	)	$	—	$	—	$	(11,576	)	$	—

Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes non-financial assets measured at fair value on a nonrecurring basis:

(In Thousands)	March 31, 2016						December 31, 2015
	Level 1		Level 21		Level 3		Level 1		Level 2		Level 3
Assets Held for Sale	$	—	$	39,059	$	—	$	—	$	6,976	$	—

¹  Assets held for sale is presented in the table net of liabilities of $1.1 million associated with the HomeSmart Disposal Group.

Fair Value of Assets (Liabilities) Not Measured at Fair Value In Consolidated Balance Sheets

The following table summarizes the fair value of assets (liabilities) that are not measured at fair value in the condensed consolidated balance sheets, but for which the fair value is disclosed:

(In Thousands)	March 31, 2016							December 31, 2015
	Level 1		Level 2			Level 3		Level 1		Level 2			Level 3
Perfect Home Notes1	$	—	$	—		$	22,108	$	—	$	—		$	22,226
Fixed-Rate Long-Term Debt2	—		(394,375		)	—		—		(395,618		)	—

¹  The Perfect Home notes were initially measured at cost. The Company periodically reviews the carrying amount utilizing company-specific transactions or changes in Perfect Home’s financial performance to determine if fair value adjustments are necessary.

²  The fair value of fixed-rate long-term debt is estimated using the present value of underlying cash flows discounted at a current market yield for similar instruments. The carrying amount of fixed-rate long-term debt was$375.0 millionat March 31, 2016 and December 31, 2015, respectively.