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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value of Assets and Liabilities Measured on Recurring Basis
The following table sets forth, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2018 and 2017. As required by ASC 820, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):
 
December 31, 2018
 
Quoted Prices
in Active Markets for
Identical Items 
(Level 1)
 
Significant 
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Total
Liabilities:
 
 
 
 
 
 
 
Contingent consideration1
$

 
$

 
$
429

 
$
429

Net investment hedge
$

 
$
(3,904
)
 
$

 
$
(3,904
)
Embedded derivative in convertible debt2
$

 
$

 
$

 
$

 
 
December 31, 2017
 
Quoted Prices in Active
Markets for
Identical Items 
(Level 1)
 
Significant 
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Total
Liabilities:
 
 
 
 
 
 
 
Contingent consideration1
$

 
$

 
$
1,712

 
$
1,712

Net investment hedge
$

 
$
(3,246
)
 
$

 
$
(3,246
)
Embedded derivative in convertible debt2
$

 
$
20,594

 
$

 
$
20,594


__________________________
1
Inclusive of both current and noncurrent portions.
2
The embedded derivative liability was reclassified to stockholders’ equity as of May 17, 2018 and is no longer marked to fair value each period, as discussed in Note 10.
Summary of Changes in Fair Value of Level 3 Contingent Consideration
The following table represents the changes in the fair value of Level 3 contingent consideration (in thousands):
 
Twelve Months Ended December 31,
 
2018
 
2017
Beginning balance
$
1,712

 
$
3,739

Accretion of liability
39

 
222

Foreign currency effects
(14
)
 
203

Payment
(1,106
)
 
(1,278
)
Revaluation
(202
)
 
(1,174
)
Ending balance
$
429

 
$
1,712