Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 and the level they fall within the fair value hierarchy (in thousands):

Amounts Recorded at Fair Value	Financial Statement Classification	Fair Value Hierarchy	Fair Value March 31, 2015		Fair Value December 31, 2014
Non-COLI assets held in DSC Plan	Other assets	Level 1	$	263	$	253
Interest rate swaps	Accrued expenses	Level 2	$	490		-
Earn-out obligation – current	Current portion of earn-out obligations	Level 3	$	14,565	$	9,455
Earn-out obligation – long-term	Earn-out obligations	Level 3	$	30,200		-

Fair Value Reconciliation, Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balance of the earn-out obligations measured at fair value on a recurring basis that used significant unobservable inputs (Level 3).

	Current portion		Long-term portion		Total
Balance as of December 31, 2014	$	9,455	$	-	$	9,455
Fair value adjustment included in earnings		310		-		310
Additional earn-out obligation		4,800		30,200		35,000
Balance as of March 31, 2015	$	14,565	$	30,200	$	44,765

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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