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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes our assets and liabilities at December 31, 2017 and 2016 that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value (in thousands):

 

 

 

Level

 

 

December 31, 2017

 

 

December 31, 2016

 

Deferred compensation plan assets

 

 

1

 

 

$

85,589

 

 

$

69,912

 

Corporate and municipal bonds

 

 

1

 

 

$

51,101

 

 

$

44,573

 

Deferred compensation plan liabilities

 

 

1

 

 

$

(85,589

)

 

$

(69,912

)

Interest rate swap

 

 

2

 

 

$

1,131

 

 

$

529

 

Contingent purchase price liabilities

 

 

3

 

 

$

(37,574

)

 

$

(33,709

)

 

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

The following table summarizes the change in fair value of our contingent purchase price liabilities identified as Level 3 for the years ended December 31, 2017 and 2016 (pre-tax basis, in thousands):

 

 

 

Contingent

Purchase Price

Liabilities

 

Beginning balance — January 1, 2016

 

$

(24,817

)

Additions from business acquisitions

 

 

(21,088

)

Settlement of contingent purchase price payable

 

 

11,202

 

Change in fair value of contingency

 

 

1,342

 

Change in net present value of contingency

 

 

(348

)

Balance — December 31, 2016

 

$

(33,709

)

Additions from business acquisitions

 

 

(19,291

)

Settlement of contingent purchase price payable

 

 

13,932

 

Change in fair value of contingency

 

 

2,128

 

Change in net present value of contingency

 

 

(634

)

Balance — December 31, 2017

 

$

(37,574

)