Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v2.4.1.9
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair value hierarchy and related valuation methodologies
The prescribed fair value hierarchy and related valuation methodologies are as follows:
Level 1
Inputs are quoted prices in active markets for identical assets or liabilities.
Level 2
Inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data.
Level 3
Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.
Schedule of liabilities measured at fair value on a recurring basis
The following table discloses the liabilities measured at fair value on a recurring basis as of December 31, 2014 and 2013:
 
Fair value at December 31, 2014
 
Total
 
Level 1
 
Level 2
 
Level 3
Contingent consideration related to the acquisition of:

 
 
 
 
 
 
Active Building
$
1,566

 
$

 
$

 
$
1,566

MyBuilding
248

 

 

 
248

InstaManager
2,335

 

 

 
2,335

     VMM
1

 

 

 
1

 
$
4,150

 
$

 
$

 
$
4,150

 
Fair value at December 31, 2013
 
Total
 
Level 1
 
Level 2
 
Level 3
Contingent consideration related to the acquisition of:

 
 
 
 
 
 
Senior Living
$
113

 
$

 
$

 
$
113

Active Building
1,366

 

 

 
1,366

MyBuilding
348

 

 

 
348

 
$
1,827

 
$

 
$

 
$
1,827

Changes in Level 3 fair value measurements
The changes in the fair value of Level 3 measurements for the reporting periods are as follows:
 
(in thousands)
Balance, January 1, 2012
$
364

Initial contingent consideration
1,614

Net gain on change in fair value
(151
)
Balance, December 31, 2013
1,827

Initial contingent consideration
2,939

Settlements through cash payments
(229
)
Net gain on change in fair value
(387
)
Balance, December 31, 2014
$
4,150

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:
 
 
2014
 
2013
Discount rates
 
22.5 - 64.0%
 
23.3 - 27.2%
Volatility rates
 
45.0 - 48.0%
 
58.0%
Risk free rate of return
 
0.1% - 0.2%
 
0.1%