Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of fair value of assets and liabilities measured on recurring basis

The following tables set forth our assets and liabilities that were measured at fair value on a recurring basis by level within the fair value hierarchy:



(in thousands)
As of March 31, 2020	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at March 31, 2020

Assets
Money market funds⁽¹⁾	$	76	$	—	$	—	$	76
Equity mutual funds⁽²⁾	$	1,278	$	—	$	—	$	1,278
Cross currency swaps⁽³⁾	$	—	$	9,883	$	—	$	9,883
Foreign currency exchange contracts⁽³⁾	$	—	$	9,643	$	—	$	9,643
Liabilities
Foreign currency exchange contracts⁽³⁾	$	—	$	39	$	—	$	39
Deferred compensation⁽⁴⁾	$	1,278	$	—	$	—	$	1,278



(in thousands)
As of December 31, 2019	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2019

Assets
Money market funds⁽¹⁾	$	71	$	—	$	—	$	71
Equity mutual funds⁽²⁾	$	1,676	$	—	$	—	$	1,676
Cross currency swaps⁽³⁾	$	—	$	4,559	$	—	$	4,559
Foreign currency exchange contracts⁽³⁾	$	—	$	1,791	$	—	$	1,791
Liabilities
Foreign currency exchange contracts⁽³⁾	$	—	$	2,886	$	—	$	2,886
Deferred compensation⁽⁴⁾	$	1,676	$	—	$	—	$	1,676


(1)	Money market funds with an original maturity of less than ninety days are included within cash and cash equivalents. The remaining balance of cash and cash equivalents as of March 31, 2020 and December 31, 2019, consisted of demand deposits.


(2)	Equity mutual funds relate to a deferred compensation plan that was assumed as part of a previous business combination. This amount is included within other long-term assets. See footnote (4) below for a discussion of the related deferred compensation liability.


(3)	Cross currency swaps and foreign currency exchange contracts are included within other current assets, other long-term assets, accrued liabilities, or other long-term liabilities depending on the gain (loss) position and anticipated settlement date.

(4)

A deferred compensation plan assumed as part of a previous business combination is included within accrued liabilities and other long-term liabilities. The fair value of our deferred compensation plan is indexed to the performance of the underlying equity mutual funds discussed in footnote (2) above.