Fair Value Disclosure

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Disclosure

Fair Value Disclosure

The following table presents the Company's assets and liabilities accounted for at fair value on a recurring basis:

Description	Balance Sheet Location	MARCH 31 2020		DECEMBER 31 2019		MARCH 31 2019
Assets:
Interest rate swap agreements
Current	Prepaid expenses and other current assets	$	—	$	—	$	236
Long-term	Other non-current assets	—		—		435
Foreign currency exchange contracts
Current	Prepaid expenses and other current assets	767		—		44
		$	767	$	—	$	715
Liabilities:
Interest rate swap agreements
Current	Other current liabilities	$	362	$	21	$	—
Long-term	Other long-term liabilities	818		61		—
Foreign currency exchange contracts
Current	Other current liabilities	—		308		34
		$	1,180	$	390	$	34

The Company measures its derivatives at fair value using significant observable inputs, which is Level 2 as defined in the fair value hierarchy. The Company uses a present value technique that incorporates the LIBOR swap curve, foreign currency spot rates and foreign currency forward rates to value its derivatives, including its interest rate swap agreements and foreign currency exchange contracts, and also incorporates the effect of its subsidiary and counterparty credit risk into the valuation.

Other Fair Value Measurement Disclosures

The carrying amounts of cash and cash equivalents, trade receivables and accounts payable approximate fair value due to the short-term maturities of these instruments. The fair values of revolving credit agreements, including book overdrafts, which approximate book value, were determined using current rates offered for similar obligations taking into account subsidiary credit risk, which is Level 2 as defined in the fair value hierarchy.