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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of December 31, 2016 and 2015, consisted of the following (in thousands):
 
 
 
 
Fair Value Measurements Using
 
 
Total Fair
 
Quoted prices in
 
Significant other
 
Significant
 
 
Value at
 
active markets
 
observable inputs
 
Unobservable inputs
Description
 
December 31, 2016
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
Interest rate contracts (1)
 
$
4,991

 
$

 
$
4,991

 
$

Foreign currency contract assets, current and long-term (2)
 
$
354

 
$

 
$
354

 
$

Foreign currency contract liabilities, current and long-term (3)
 
$
(464
)
 
$

 
$
(464
)
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements Using
 
 
Total Fair
 
Quoted prices in
 
Significant other
 
Significant
 
 
Value at
 
active markets
 
observable inputs
 
Unobservable inputs
Description
 
December 31, 2015
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
Interest rate contracts (1)
 
$
2

 
$

 
$
2

 
$

Foreign currency contracts (2)
 
$
(278
)
 
$

 
$
(278
)
 
$


(1)    The fair value of the interest rate contracts is determined using Level 2 fair value inputs and is recorded as other assets or other long-term obligations in the consolidated balance sheets.
(2)    The fair value of the foreign currency contract assets (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as prepaid and other assets or other long-term assets in the consolidated balance sheets.
(3) The fair value of the foreign currency contract liabilities (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as accrued expenses or other long-term obligations in the consolidated balance sheets.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Changes in the fair value of our contingent consideration liability during the years ended December 31, 2016 and 2015, consisted of the following (in thousands):
 
2016
 
2015
Beginning balance
$
1,024

 
$
1,886

Contingent consideration liability recorded as the result of acquisitions (see Note 2)

 
270

Fair value adjustments recorded to income during the period
(123
)
 
80

Contingent payments made
(218
)
 
(1,212
)
Ending balance
$
683

 
$
1,024

Fair Value Inputs, Liabilities, Quantitative Information
The recurring Level 3 measurement of our contingent consideration liability and contingent receivable includes the following significant unobservable inputs at December 31, 2016 and 2015 (amounts in thousands):
Contingent consideration asset or liability
 
Fair value at December 31, 2016
 
Valuation technique
 
Unobservable inputs
 
Range
Revenue-based payments
 
$
683

 
Discounted cash flow

 
Discount rate
 
9.9% - 15%
contingent liability
 
 
 
 
Probability of milestone payment
 
100%
 
 
 
 
 
 
Projected year of payments
 
2017-2028
 
 
 
 
 
 
 
 
 
Contingent receivable
 
$
528

 
Discounted cash flow

 
Discount rate
 
10%
asset
 
 
 
 
Probability of milestone payment
 
57%
 
 
 
 
 
 
Projected year of payments
 
2017-2019
 
 
 
 
 
 
 
 
 
Contingent consideration liability
 
Fair value at December 31, 2015
 
Valuation technique
 
Unobservable inputs
 
Range
Revenue-based payments
 
$
874

 
Discounted cash flow

 
Discount rate
 
5% - 15%
contingent liability
 
 
 
 
Probability of milestone payment
 
100%
 
 
 
 
 
 
Projected year of payments
 
2016-2028
 
 
 
 
 
 
 
 
 
Other payments
 
$
150

 
Discounted cash flow

 
Discount rate
 
—%
contingent liability
 
 
 
 
Probability of milestone payment
 
100%
 
 
 
 
 
 
Projected year of payments
 
2016