FAIR VALUE AND DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2014

FAIR VALUE AND DERIVATIVE INSTRUMENTS

Schedule of carrying amount, fair values and classification of financial instruments measured or disclosed at fair value on a recurring basis

The following table presents the carrying amount, fair values, and classification level within the fair value hierarchy of financial instruments measured or disclosed at fair value on a recurring basis (in thousands):

	September 30, 2014				December 31, 2013				Level of Fair Value Hierarchy
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	15,005	$	15,005	$	34,722	$	34,722	Level 1
Restricted cash	3,567		3,567		4,124		4,124		Level 1
Foreign currency forward contracts	384		384		285		285		Level 2
Liabilities:
Variable interest rate debt	17,540		17,540		26,635		26,635		Level 2
Contingent consideration	—		—		7,500		7,500		Level 3
Foreign currency forward contracts	578		578		872		872		Level 2

Schedule of fair value hierarchy activity during the year

The following table presents a reconciliation of the changes during the period ended September 30, 2014 for items categorized within Level 3 of the fair value hierarchy (in thousands):

	Contingent Consideration
Balance at December 31, 2013	$	7,500
Current period settlements (payments)	(7,500		)
Balance at September 30, 2014	$	—

Schedule of fair value on the Consolidated Balance Sheets of the foreign currency forward contracts

The following table presents the fair value on the Consolidated Balance Sheets of the foreign currency forward contracts (in thousands):

	September 30, 2014			December 31, 2013
Foreign currency forwards designated as hedges:
Other current assets	$	202		$	144
Accrued expenses	(209		)	(249		)
Foreign currency forwards not designated as hedges:
Other current assets	182			141
Accrued expenses	(369		)	(623		)
Foreign currency forwards, net	$	(194	)	$	(587	)