Fair Value of Assets Measured on Recurring Basis |
The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | Total Fair Value at | | Fair Value Measurements Using Inputs Considered as | | March 31, 2017 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | Money market | $ | 37,125 |
| | $ | 37,125 |
| | $ | — |
| | $ | — |
| Corporate bonds | 25,331 |
| | — |
| | 25,331 |
| | — |
| Commercial paper | 5,986 |
| | — |
| | 5,986 |
| | — |
| Certificates of deposit | 7,026 |
| | — |
| | 7,026 |
| | — |
| Total assets measured at fair value | $ | 75,468 |
| | $ | 37,125 |
| | $ | 38,343 |
| | $ | — |
| Liabilities: | | | | | | | | Contingent consideration on acquired businesses | 10,068 |
| | $ | — |
| | $ | — |
| | $ | 10,068 |
| Total liabilities measured at fair value | $ | 10,068 |
| | $ | — |
| | $ | — |
| | $ | 10,068 |
|
| | | | | | | | | | | | | | | | | | Total Fair Value at | | Fair Value Measurements Using Inputs Considered as | | September 30, 2016 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | Money market | $ | 44,319 |
| | $ | 44,319 |
| | $ | — |
| | $ | — |
| Corporate bonds | 28,767 |
| | — |
| | 28,767 |
| | — |
| Commercial paper | 23,943 |
| | — |
| | 23,943 |
| | — |
| Certificates of deposit | 7,309 |
| | — |
| | 7,309 |
| | — |
| Government municipal bonds | 1,904 |
| | — |
| | 1,904 |
| | — |
| Total assets measured at fair value | $ | 106,242 |
| | $ | 44,319 |
| | $ | 61,923 |
| | $ | — |
| Liabilities: | | | | | | | | Contingent consideration on acquired businesses | $ | 9,960 |
| | $ | — |
| | $ | — |
| | $ | 9,960 |
| Total liabilities measured at fair value | $ | 9,960 |
| | $ | — |
| | $ | — |
| | $ | 9,960 |
|
|
Fair Value of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
The following table presents a reconciliation of the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands): | | | | | | | | | | | | | | | | | | Three months ended March 31, | | Six months ended March 31, | | 2017 | | 2016 | | 2017 | | 2016 | Fair value at beginning of period | $ | 10,660 |
| | $ | 10,400 |
| | $ | 9,960 |
| | $ | — |
| Purchase price contingent consideration | 10 |
| | — |
| | 1,310 |
| | 10,400 |
| Contingent consideration payments | — |
| | — |
| | (518 | ) | | — |
| Change in fair value of contingent consideration | (602 | ) | | 122 |
| | (684 | ) | | 122 |
| Fair value at end of period | $ | 10,068 |
| | $ | 10,522 |
| | $ | 10,068 |
| | $ | 10,522 |
|
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