FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2014

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):



	December 31, 2014				December 31, 2013				Level of Fair Value Hierarchy
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Level of Fair Value Hierarchy
Assets:
Cash and cash equivalents	$	16,293	$	16,293	$	34,722	$	34,722	Level 1
Restricted cash	3,151		3,151		4,124		4,124		Level 1
Foreign currency forward contracts	307		307		285		285		Level 2
Liabilities:
Variable interest rate debt	16,225		16,225		26,635		26,635		Level 2
Contingent consideration	—		—		7,500		7,500		Level 3
Foreign currency forward contracts	629		629		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 December 31, 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 December 31, 2014	$	—

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

The fair value measurements for the acquired intangible assets were calculated using discounted cash flow analysis which rely upon significant unobservable Level 3 inputs which include the following:



Unobservable inputs	Range
Discount rate	19.0	%	-	22.0%
Royalty rate	2.0	%	-	3.0%
Long term growth rate	3.0%

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):



	December 31, 2014			December 31, 2013
Foreign currency forwards designated as hedges:
Other current assets	$	237		$	144
Accrued expenses	(385		)	(249		)
Foreign currency forwards not designated as hedges:
Other current assets	70			141
Accrued expenses	(244		)	(623		)
Foreign currency forwards, net	$	(322	)	$	(587	)

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values and classification of the defined benefit plan assets is as follows (in thousands):



	December 31, 2014
	Total		Level 1		Level 2		Level 3
Growth funds⁽¹⁾	$	43,676	$	43,676	$	—	$	—
Income funds⁽²⁾	25,800		25,800		—		—
Growth and income funds⁽³⁾	81,301		—		81,301		—
Hedge funds⁽⁴⁾	27,820		—		—		27,820
Real estate funds	3,100		707		2,393		—
Other assets	1,401		602		799		—
Cash and cash equivalents	2,883		2,883		—		—
Total	$	185,981	$	73,668	$	84,493	$	27,820



	December 31, 2013
	Total		Level 1		Level 2		Level 3
Growth funds⁽¹⁾	$	49,408	$	49,408	$	—	$	—
Income funds⁽²⁾	23,925		23,925		—		—
Growth and income funds⁽³⁾	83,759		—		83,759		—
Hedge funds⁽⁴⁾	25,624		—		—		25,624
Real estate funds	3,279		731		2,548		—
Other assets	1,040		594		446		—
Cash and cash equivalents	6,394		6,394		—		—
Total	$	193,429	$	81,052	$	86,753	$	25,624

____________________

⁽¹⁾ Growth funds represent a type of fund containing a diversified portfolio of domestic and international equities with a goal of capital appreciation.

⁽²⁾ Income funds represent a type of fund with an emphasis on current income as opposed to capital appreciation. Such funds may contain a variety of domestic and international government and corporate debt obligations, preferred stock, money market instruments and dividend-paying stocks.

⁽³⁾ Growth and income funds represent a type of fund containing a combination of growth and income securities.

⁽⁴⁾ Hedge funds represent a managed portfolio of investments that use advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns. These funds are subject to quarterly redemptions and advanced notification requirements, as well as the right to delay redemption until sufficient fund liquidity exists.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

A summary of the changes in the fair value of the defined benefit plans assets classified within Level 3 of the valuation hierarchy is as follows (in thousands):



	Year Ended December 31,
	2014			2013
Balance at beginning of year	$	25,624		$	22,615
Purchases	1,500			—
Sales and settlements	(420		)	(71		)
Unrealized gains	1,117			3,067
Realized (losses) gains	(1		)	13
Balance at end of year	$	27,820		$	25,624

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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