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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
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 December 31, 2016 and 2015 (in thousands):

 

 

 

Fair Value as of December 31, 2016

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

 

 

$

 

 

$

2,733

 

 

$

2,733

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Contingent Consideration Liability

 

          The following table summarizes the changes in the fair value of the contingent consideration liability during 2015 and 2016 (in thousands):

 

 

 

 

 

Balance at December 31, 2014

 

$

4,198

 

Payment of contingent consideration

 

 

(513

)

Fair value adjustment of contingent consideration

 

 

(228

)

Balance at December 31, 2015

 

 

3,457

 

Payment of contingent consideration

 

 

(816

)

Fair value adjustment of contingent consideration

 

 

92

 

Balance at December 31, 2016

 

$

2,733