Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following tables present certain information for the financial liabilities that are disclosed at fair value on a recurring basis at March 31, 2017 and December 31, 2016:



	Level 1				Level 1
	March 31, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities:
6.50% Notes due 2024	$	900,000	$	860,625	$	900,000	$	812,250

Fair Value, Inputs, Level 3

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following table presents changes in deferred acquisition consideration:



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	March 31,			December 31,
	2017			2016
Beginning balance of contingent payments	$	224,754		$	306,734
Payments ⁽¹⁾	(6,745		)	(105,169		)
Additions ⁽²⁾	—			16,132
Redemption value adjustments ⁽³⁾	12,671			13,930
Other ⁽⁴⁾	—			(6,412		)
Foreign translation adjustment	390			(461		)
Ending balance of contingent payments	$	231,070		$	224,754


(1)	For the three months ended March 31, 2017 and the year ended December 31, 2016, payments include $5,028 and $10,458, respectively, of deferred acquisition consideration settled through the issuance of 568,182 and 691,559, respectively, MDC Class A subordinate voting shares in lieu of cash.


(2)	Additions are the initial estimated deferred acquisition payments of new acquisitions and step-up transactions completed within that fiscal period.


(3)	Redemption value adjustments are fair value changes from the Company’s initial estimates of deferred acquisition payments, including the accretion of present value and stock-based compensation charges relating to acquisition payments that are tied to continued employment.


(4)	For the year ended December 31, 2016, other is comprised of (i) $2,360 transfered to shares to be issued related to 100,000 MDC Class A subordinate voting shares to be issued contingent on specific thresholds of future earnings that management expects to be attained; and (ii) $4,052 of contingent payments eliminated through the acquisition of incremental ownership interests, see Note 4.