FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2020

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 7.     FAIR VALUE MEASUREMENTS

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis.

		June 30, 2020
Description	Balance Sheet Classification	Level 1		Level 2		Level 3		Total Fair Value
Assets:
Certificates of deposit	Marketable securities	$	—	$	2,729	$	—	$	2,729
Total assets measured at fair value on a recurring basis		$	—	$	2,729	$	—	$	2,729
Liabilities:
Contingent consideration	Other long-term liabilities	$	—	$	—	$	1,377	$	1,377
Interest rate swaps	Other long-term liabilities		—		3,686		—		3,686
Total liabilities measured at fair value on a recurring basis		$	—	$	3,686	$	1,377	$	5,063

		December 31, 2019
Description	Balance Sheet Classification	Level 1		Level 2		Level 3		Total Fair Value
Assets:
Certificates of deposit	Marketable securities	$		$	2,614	$	—	$	2,614
Total assets measured at fair value on a recurring basis		$	—	$	2,614	$	—	$	2,614
Liabilities:
Contingent consideration	Other long-term liabilities	$	—	$	—	$	1,377	$	1,377
Total liabilities measured at fair value on a recurring basis		$	—	$	—	$	1,377	$	1,377

We determine the fair value of interest rate swaps by estimating the net present value of the expected cash flows based on market rates and associated yield curves, adjusted for non-performance credit risk, as applicable. See Note 8, Derivative Financial Instruments for additional information. The fair value of contingent consideration is based on probability of expected payment.

For all periods presented, there were no transfers into or out of Level 3.