Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of valuation techniques
Significant unobservable inputs used in the contingent consideration fair value measurements included the following at December 31, 2017 and 2016:
 
 
2017
 
2016
Discount rates
 
16.3
%
 
14.8 - 27.8%

Volatility rates
 
24.0
%
 
29.9
%
Risk free rate of return
 
1.6
%
 
0.7
%
Schedule of assets 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, 2017 and 2016, by the fair value hierarchy levels as described above:
 
Fair value at December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(in thousands)
Assets:
 
 
 
 
 
 
 
Interest rate swap agreements
$
1,329

 
$

 
$
1,329

 
$

 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
AssetEye
247

 

 

 
247

Axiometrics
167

 

 

 
167

Total liabilities measured at fair value
$
414

 
$

 
$

 
$
414

 
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

Schedule of liabilities measured on recurring basis
The following tables disclose the assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 and 2016, by the fair value hierarchy levels as described above:
 
Fair value at December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(in thousands)
Assets:
 
 
 
 
 
 
 
Interest rate swap agreements
$
1,329

 
$

 
$
1,329

 
$

 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
AssetEye
247

 

 

 
247

Axiometrics
167

 

 

 
167

Total liabilities measured at fair value
$
414

 
$

 
$

 
$
414

 
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

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, 2017 and 2016, in thousands:
Balance at January 1, 2016
$
841

Initial contingent consideration
245

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

Initial contingent consideration
812

Net gain on change in fair value
(939
)
Balance at December 31, 2017
$
414

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The fair value and carrying value of the Revolving Facility, Term Loans, and Convertible Notes were as follows at December 31, 2017 and 2016:
 
December 31, 2017
 
December 31, 2016
 
Fair Value
 
Carrying Value
 
Fair Value
 
Carrying Value
 
(in thousands)
Revolving Facility
$
49,427

 
$
50,000

 
$

 
$

Term Loans
303,806

 
317,377

 
122,532

 
122,126

Convertible Notes
430,301

 
281,199