Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2015
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 September 30, 2015 and December 31, 2014 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 September 30, 2015
    
Fair Value December 31, 2014
  
Non-COLI assets held in Deferred Supplemental Compensation Plan
Other assets
Level 1
  
$
255
    
$
253
  
Interest rate swaps
Accrued expenses
Level 2
  
$
1,017
      
-
  
Earn-out obligation - current
Current portion of earn-out obligation
Level 3
  
$
9,038
    
$
9,455
  
Earn-out obligation - long-term
Earn-out obligation
Level 3
  
$
12,576
      
-
  
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, 2014
  
$
9,455
    
$
-
    
$
9,455
  
Earn-out payments
    
(14,982
)
    
-
      
(14,982
)
Fair value adjustment included in earnings
    
740
      
295
      
1,035
  
Aviation Acquisition earn-out obligation
    
13,825
      
12,281
      
26,106
  
Balance as of September 30, 2015
  
$
9,038
    
$
12,576
    
$
21,614