Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2016

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments:



	Fair Value as of July 31, 2016								Fair Value as of January 31, 2016
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)		Total		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash equivalents	$	16,901	$	16,901	$	—	$	—	$	16,866	$	16,866	$	—	$	—
Derivative financial instruments	766		—		766		—		—		—		—		—
Total financial assets	$	17,667	$	16,901	$	766	$	—	$	16,866	$	16,866	$	—	$	—

Financial liabilities:
Triune Earn-out	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Cycleo Earn-out	1,295		—		—		1,295		1,457		—		—		1,457
Derivative financial instruments	483		—		483		—		—		—		—		—
Total financial liabilities	$	1,778	$	—	$	483	$	1,295	$	1,457	$	—	$	—	$	1,457

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

A reconciliation of the change in the earn-out liability during the six months ended July 31, 2016 is as follows:



(in thousands)	Cycleo			Triune		Total
Balance at January 31, 2016	$	1,457		$	—	$	1,457
Changes in the fair value of contingent earn-out obligations	(162		)	—		(162		)
Balance as of July 31, 2016	$	1,295		$	—	$	1,295

Fair Value, by Balance Sheet Grouping

Financial assets measured and recorded at fair value on a recurring basis were presented within the Company’s condensed consolidated balance sheets as follows:



	Fair Value as of July 31, 2016								Fair Value as of January 31, 2016
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)		Total		(Level 1)		(Level 2)		(Level 3)
Financial assets:
Cash equivalents	$	16,901	$	16,901	$	—	$	—	$	16,866	$	16,866	$	—	$	—
Derivative financial instruments	766		—		766		—		—		—		—		—
Total financial assets	$	17,667	$	16,901	$	766	$	—	$	16,866	$	16,866	$	—	$	—

Financial liabilities:
Cycleo Earn-Out	$	1,295	$	—	$	—	$	1,295	$	1,457	$	—	$	—	$	1,457
Derivative financial instruments	483		—		483		—		—		—		—		—
Total financial liabilities	$	1,778	$	—	$	483	$	1,295	$	1,457	$	—	$	—	$	1,457