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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Financial assets and liabilities measured at fair value on a recurring basis
The following tables summarize the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):
 
 
 
Fair Value Measurements at Reporting Date Using
 
December 31,
2015
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Financial Assets:
 
 
 
 
 
 
 
Deferred compensation investments (1)
$
3,617

 
$
572

 
$
3,045

 
$

 
 
 
 
 
 
 
 
Financial Liabilities:
 
 
 
 
 
 
 
Foreign currency contracts
$
14

 
$

 
$
14

 
$


 
 
 
Fair Value Measurements at Reporting Date Using
 
December 31, 2014
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Financial Assets:
 
 
 
 
 
 
 
Deferred compensation investments
$
1,859

 
$
1,245

 
$
614

 
$

 
 
 
 
 
 
 
 
Financial Liabilities:
 
 
 
 
 
 
 
Foreign currency contracts
$
518

 
$

 
$
518

 
$



(1) Deferred compensation investments at December 31, 2015 included $2.4 million of funds that Orad invested in insurance contracts for the post-employment benefits that Orad employees earned.