Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.6.0.2
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of liabilities measured at fair value on a recurring basis
The following tables disclose the assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and 2015, by the fair value hierarchy levels as described above:
 
Fair value at December 31, 2016
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(in thousands)
Assets:
 
 
 
 
 
 
 
Interest rate swap agreements
$
1,098

 
$

 
$
1,098

 
$

 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
Indatus
2

 

 

 
2

AssetEye
539

 

 

 
539

Total liabilities measured at fair value
$
541

 
$

 
$

 
$
541

 
Fair value at December 31, 2015
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(in thousands)
Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
Indatus
$
814

 
$

 
$

 
$
814

VRX
27

 

 

 
27

Total liabilities measured at fair value
$
841

 
$

 
$

 
$
841

Changes in Level 3 fair value measurements
Changes in the fair value of Level 3 measurements for the reporting periods were as follows during the years ended December 31, 2016 and 2015, in thousands:
Balance at January 1, 2015
$
4,150

Initial contingent consideration
1,414

Settlements through cash payments
(1,179
)
Net gain on change in fair value
(3,544
)
Balance at December 31, 2015
841

Initial contingent consideration
245

Net gain on change in fair value
(545
)
Balance at December 31, 2016
$
541

Recurring  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of valuation techniques
Significant unobservable inputs used in the contingent consideration fair value measurements included the following at December 31, 2016 and 2015:
 
 
2016
 
2015
Discount rates
 
14.8 - 27.8%
 
15.8 - 60.0%
Volatility rates
 
29.9%
 
37.0 - 53.5%
Risk free rate of return
 
0.7%
 
0.5 - 0.9%