Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2014
Fair Value Measurements [Abstract]  
Fair Value of Assets and Liabilities
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013 and the level they fall within the fair value hierarchy (in thousands):

Amounts Recorded at Fair Value
Financial Statement Classification
Fair Value Hierarchy
 
Fair Value June 30, 2014
 
 
Fair Value December 31, 2013
 
Non-COLI assets held in DSC Plan
Other assets
Level 1
 
$
232
 
 
$
198
 
Interest rate swaps
Accrued expenses
Level 2
 
 
-
 
 
$
326
 
Earn-out obligation - current
Current portion of earn-out obligations
Level 3
 
$
1,486
 
 
 
-
 
Earn-out obligation - long-term
Earn-out obligations
Level 3
 
$
8,363
 
 
$
9,062
 

Fair Value Reconciliation, Unobservable Inputs
The following table provides a reconciliation of the beginning and ending balance of the earn-out obligations measured at fair value on a recurring basis that used significant unobservable inputs (Level 3).

 
 
Current portion
 
 
Long-term portion
 
 
Total
 
Balance as of December 31, 2013
 
$
-
 
 
$
9,062
 
 
$
9,062
 
Fair value adjustment included in earnings
 
 
-
 
 
 
787
 
 
 
787
 
Reclassification from long-term to short-term
 
 
1,486
 
 
 
(1,486
)
 
 
-
 
Balance as of June 30, 2014
 
$
1,486
 
 
$
8,363
 
 
$
9,849