Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Fair Value Measurements

The following table presents assets and liabilities measured at fair value on a recurring basis as of December 31, 2012:

	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Investments held in conjunction with deferred compensation plan	$	—	$	28,775	$	—	$	28,775
Total assets	$	—	$	28,775	$	—	$	28,775
Benefits payable in conjunction with deferred compensation plan	$	—	$	28,867	$	—	$	28,867
Acquisition-related contingent consideration	—		—		17,285		17,285
Total liabilities	$	—	$	28,867	$	17,285	$	46,152

For comparative purposes, the following table presents assets and liabilities measured at fair value on a recurring basis as of December 31, 2011:

	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Investments held in conjunction with deferred compensation plan	$	—	$	23,542	$	—	$	23,542
Total assets	$	—	$	23,542	$	—	$	23,542
Benefits payable in conjunction with deferred compensation plan	$	—	$	23,729	$	—	$	23,729
Acquisition-related contingent consideration	—		—		17,738		17,738
Total liabilities	$	—	$	23,729	$	17,738	$	41,467

The investments held and benefits payable to participants in conjunction with the deferred compensation plan were primarily based on quoted prices for similar assets in active markets. Changes in the fair value of the investments are recognized as an increase or decrease in compensation expense. Changes in the fair value of the benefits payables to participants are recognized as a corresponding offset to compensation expense. The net impact of changes in fair value is not material. The deferred compensation plan is further discussed in Note 17.

The Company estimated the fair value of the acquisition-related contingent consideration payable using probability-weighted discounted cash flow models. The Company's valuation process incorporates the use of valuation specialists to conduct the valuation and provide a report in accordance with professional standards. The Company utilizes these reports to determine fair value. Typically, a discount factor is applied to the present values of the calculated contingent consideration payable. The key assumptions used in these models are estimated by management, not observable in the market and considered Level 3 inputs within the fair value measurement hierarchy which required significant management judgments, including judgments involving forecasted revenue, gross margin levels and probability weightings. Key assumptions are assessed and updated on a quarterly basis.

The following table reconciles the changes in the acquisition-related contingent consideration payable:

Balance as of December 31, 2011	$	17,738
Fair market value of contingent consideration from acquisitions during the year	4,653
Payment of contingent consideration	(6,550		)
Change in fair market value	1,275
Impact of foreign currency translation	169
Balance as of December 31, 2012	$	17,285

During the year endedDecember 31, 2012, an expense of $1,275 was recorded to transaction and integration costs to reflect the change in fair value of the estimated contingent consideration payable. The current portion of the acquisition-related contingent consideration payable is reflected in "Accrued expenses" and the long-term portion in "Other long-term liabilities" on the Consolidated Balance Sheets.

The significant unobservable inputs used in the fair value measurement of the acquisition-related contingent consideration payable primarily comprise forecasted revenue and forecasted margins. Significant changes in forecasted revenue would result in a significantly higher or lower fair value measurement. As of December 31, 2012, the fair market value of acquisition-related contingent consideration totaled $17,285 compared to a maximum remaining potential payout of $24,765.

The Company does not have any material financial assets in a market that is not active.