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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Measurements  
Summary of fair values and levels within the fair value hierarchy in which the fair value measurements fall for assets and liabilities measured on a recurring basis

The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of June 30, 2016 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

 

 

 

Quoted Prices in

 

Significant

 

 

 

 

 

 

 

 

Active Markets

 

Other

 

Significant

 

 

 

Balance

 

for Identical

 

Observable

 

Unobservable

 

 

 

June 30,

 

Assets 

 

Inputs

 

Inputs

 

 

    

2016

    

(Level 1)

    

(Level 2)

    

(Level 3)

 

Cash and cash equivalents

 

$
38,282

 

$
38,282

 

$

 —

 

$

 —

 

Life insurance—cash surrender value

 

$
3,725

 

$

 —

 

$
3,725

 

$

 —

 

Contingent earn-out obligations

 

$
3,598

 

$

 —

 

$

 —

 

$
3,598

 

 

Schedule of reconciliation of the fair value of contingent earn-out obligations that use significant unobservable inputs (Level 3)

The table below presents a reconciliation of the fair value of our contingent earn-out obligations that use significant unobservable inputs (Level 3) (in thousands).

 

 

 

 

 

 

 

Balance at beginning of year

    

$
450

 

Issuances

 

 
3,240

 

Settlements

 

 
(428)

 

Adjustments to fair value

 

 
336

 

Balance at June 30, 2016

 

$
3,598