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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2018
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 September 30, 2018 and December 31, 2017, respectively, 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

 

September 30, 2018

 

 

December 31, 2017

 

Deferred compensation plan assets

 

1

 

$

93,310

 

 

$

85,589

 

Corporate and municipal bonds

 

1

 

$

52,388

 

 

$

51,101

 

Deferred compensation plan liabilities

 

1

 

$

(93,310

)

 

$

(85,589

)

Interest rate swaps

 

2

 

$

2,110

 

 

$

1,131

 

Contingent purchase price liabilities

 

3

 

$

(39,896

)

 

$

(37,574

)

 
Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

During the nine months ended September 30, 2018 and 2017, there were no transfers between the valuation hierarchy Levels 1, 2 and 3. The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the nine months ended September 30, 2018 and 2017 (pre-tax basis) (in thousands):

 

 

 

2018

 

 

2017

 

Beginning balance – January 1

 

$

(37,574

)

 

$

(33,709

)

Additions from business acquisitions

 

 

(12,361

)

 

 

(17,526

)

Settlement of contingent purchase price liabilities

 

 

13,329

 

 

 

11,644

 

Change in fair value of contingencies

 

 

(2,574

)

 

 

651

 

Change in net present value of contingencies

 

 

(716

)

 

 

(430

)

Ending balance – September 30

 

$

(39,896

)

 

$

(39,370

)