Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value as of June 30, 2016
	Level 1		Level 2		Level 3		Total
Liabilities
Contingent consideration	$	—	$	—	$	2,200	$	2,200


	Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Liabilities
Contingent consideration	$	—	$	—	$	3,457	$	3,457

Summary of Changes in the Fair Value of the Liability

The following table summarizes the changes in the fair value of the liability during the six months ended June 30, 2016 (in thousands):

Balance at December 31, 2015	$	3,457
Payment of contingent consideration		(400	)
Fair value adjustment of contingent consideration		(857	)
Balance at June 30, 2016	$	2,200