Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Fair Value Inputs
Significant unobservable inputs used in the contingent consideration fair value measurements included the following at September 30, 2017 and December 31, 2016:
 
 
September 30, 2017
 
December 31, 2016
Discount rates
 
16.5
%
 
14.8 - 27.8%
Volatility rates
 
24.0
%
 
29.9%
Risk free rate of return
 
1.3
%
 
0.7%
Schedule of fair value of assets and liabilities
The following tables disclose the assets and liabilities measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, by the fair value hierarchy levels as described above:
 
Fair value at September 30, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(in thousands)
Assets:
 
 
 
 
 
 
 
Interest rate swap agreements
$
1,073

 
$

 
$
1,073

 
$

Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
AssetEye
$
255

 
$

 
$

 
$
255

Axiometrics
343

 

 

 
343

Total liabilities measured at fair value
$
598

 
$

 
$

 
$
598

 
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 change in level 3 fair values
Changes in the fair value of Level 3 measurements were as follows for the nine months ended September 30, 2017 and 2016:
 
Nine Months Ended September 30,
 
2017
 
2016
 
(in thousands)
Balance at beginning of period
$
541

 
$
841

Initial contingent consideration
812

 
245

Net gain on change in fair value
(755
)
 
(692
)
Balance at end of period
$
598

 
$
394

Schedule of Fair Value of Convertible Debt
The carrying value of the Convertible Notes is net of unamortized discount and issuance costs. The fair value and carrying value of the Convertible Notes were as follows at September 30, 2017:
 
Fair Value
 
Carrying Value
 
(in thousands)
Convertible Notes
$
401,235

 
$
278,392