Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair value measurements [Abstract]

Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

	June 30, 2016
(in thousands)		Level 1		Level 2		Level 3		Total
Assets:
Investment in money market funds (1)		$	92	$	-	$	-	$	92
Total assets		$	92	$	-	$	-	$	92
Liabilities:
Contingent consideration		$	-	$	-	$	25,563	$	25,563
Total liabilities		$	-	$	-	$	25,563	$	25,563
	December 31, 2015
(in thousands)		Level 1		Level 2		Level 3		Total
Assets:
Investment in money market funds (1)		$	3,323	$	-	$	-	$	3,323
Total assets		$	3,323	$	-	$	-	$	3,323
Liabilities:
Contingent consideration		$	-	$	-	$	25,599	$	25,599
Total liabilities		$	-	$	-	$	25,599	$	25,599

(1) Included in cash and cash equivalents in the accompanying consolidated balance sheets.

Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

The following table is a reconciliation of the beginning and ending balance of the liabilities, consisting only of contingent consideration, measured at fair value using significant unobservable inputs (Level 3) during the six months ended June 30, 2016.

(in thousands)
Balance at December 31, 2015	$	25,599
Expense included in earnings		935
Settlements		(971	)
Purchases, sales and issuances		-
Transfers in/(out) of Level 3		-
Balance at June 30, 2016	$	25,563