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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2019 and December 31, 2018, were as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurement at June 30, 2019 Using

​

​

​

Quoted Prices in

Significant

​

​

​

​

​

​

​

Active Markets

​

Other

​

Significant

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

​

​

​

​

​

Assets

​

Inputs

​

Inputs

​

​

Total

​

(Level 1)

​

(Level 2)

​

(Level 3)

Interest rate swap derivative instruments – net liability position

​

$

(34,183)

​

$

—

​

$

(34,183)

​

$

—

Restricted cash and investments

​

$

138,635

​

$

—

​

$

138,635

​

$

—

Contingent consideration

​

$

(57,000)

​

$

—

​

$

—

​

$

(57,000)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurement at December 31, 2018 Using

​

​

​

Quoted Prices in

Significant

​

​

​

​

​

​

​

Active Markets

​

Other

​

Significant

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

​

​

​

​

​

Assets

​

Inputs

​

Inputs

​

​

Total

​

(Level 1)

​

(Level 2)

​

(Level 3)

Interest rate swap derivative instruments – net asset position

​

$

12,098

​

$

—

​

$

12,098

​

$

—

Restricted cash and investments

​

$

131,422

​

$

—

​

$

131,422

​

$

—

Contingent consideration

​

$

(54,615)

​

$

—

​

$

—

​

$

(54,615)

Change in Fair Value for Level 3 Derivatives

The following table summarizes the changes in the fair value for Level 3 derivatives for the six months ended June 30, 2019 and 2018:

​

​	​	​	​	​	​	​	​
​	​	Six Months Ended June 30,					​
​		2019			2018
Beginning balance	​	$	—	​	$	3,880	​
Realized gains included in earnings	​		—	​		(2,837)	​
Unrealized gains included in AOCIL	​		—	​		2,661	​
Ending balance	​	$	—	​	$	3,704	​

Fair Value for Level 3 Liabilities

The following table summarizes the changes in the fair value for Level 3 liabilities related to contingent consideration for the six months ended June 30, 2019 and 2018:

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​	​	​	​	​	​	​	​
​	​	Six Months Ended June 30,					​
​		2019			2018
Beginning balance	​	$	54,615	​	$	47,285	​
Contingent consideration recorded at acquisition date	​		398	​		11,669	​
Payment of contingent consideration recorded at acquisition date	​		(550)	​		(4,976)	​
Payment of contingent consideration recorded in earnings	​		—	​		(11)	​
Adjustments to contingent consideration	​		1,466	​		349	​
Interest accretion expense	​		919	​		852	​
Foreign currency translation adjustment	​		152	​		(180)	​
Ending balance	​	$	57,000	​	$	54,988	​

​

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- References

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
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-Publisher FASB
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- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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