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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2016
Fair Value Measurements [Abstract]  
Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements as of March 31, 2016

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

Description

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents (a) 

$

 35,400 

 

$

—

 

$

—

 

$

 35,400 

Earnout consideration (b)

$

—

 

$

—

 

$

 9,942 

 

$

 9,942 



 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements as of December 31, 2015

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

Description

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents (a) 

$

 26,648 

 

$

—

 

$

—

 

$

 26,648 

Earnout consideration (b)

$

—

 

$

—

 

$

 9,673 

 

$

 9,673 



(a)

Cash equivalents include funds held in money market instruments and are reported at their current carrying value, which approximates fair value due to the short-term nature of these instruments and are included in cash and cash equivalents in the consolidated balance sheet.

(b)

The fair value of the earnout consideration, which is based on the present value of the expected future payments to be made to the sellers of the acquired businesses, was derived by analyzing the future performance of the acquired businesses using the earnout formula and performance targets specified in each purchase agreement and adjusting those amounts to reflect the ability of the acquired entities to achieve the stated targets. Given the significance of the unobservable inputs, the valuations are classified in Level 3 of the fair value hierarchy. The change in earnout consideration reflects $269 of accretion.