Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2016

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the following periods (in thousands):



	December 31, 2016								December 31, 2015
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	133,540		—		—		133,540		133,147		—		—		133,147
Total assets measured at fair value	$	133,540	$	—	$	—	$	133,540	$	133,147	$	—	$	—	$	133,147
Liabilities:
Contingent consideration	—		—		5,175		5,175		—		—		5,516		5,516
Total liabilities measured at fair value	$	—	$	—	$	5,175	$	5,175	$	—	$	—	$	5,516	$	5,516

Changes in Estimated Fair Value of Contingent Consideration Liabilities

Changes in estimated fair value of contingent consideration liabilities from December 31, 2015 through December 31, 2016 are as follows (in thousands):



	Contingent consideration liability (Level 3 measurement)
Balance at December 31, 2015	$	5,516
Cash payments	(207		)
Net gain recorded for fair value adjustments	(485		)
Additional liability recorded for current period acquisition	353
Unrealized gain on foreign currency translation	(2		)
Balance at December 31, 2016	$	5,175