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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2016
FAIR VALUE MEASUREMENTS

5. FAIR VALUE MEASUREMENTS

The following tables present our assets and liabilities carried at fair value that are measured on a recurring basis:

 

                   Fair Value Measurements
at June 30, 2016 Using		  
     Balance Sheet Location      Total      Level 1      Level 2      Level 3  

Assets:

               

Available-for-sale securities

      Other assets       $ 239       $ 239         —          —    

Derivative financial instruments

      Other current assets       $ 274         —        $ 274         —    

Liabilities:

               

Derivative financial instruments

     
 		 Accrued expenses and other
current liabilities		   
  		    $ 649         —        $ 649         —    

 

                   Fair Value Measurements
at December 31, 2015 Using		  
     Balance Sheet Location      Total      Level 1      Level 2      Level 3  

Assets:

               

Available-for-sale securities

      Other assets       $ 254       $ 254         —          —    

Derivative financial instruments

      Other current assets       $ 1,249         —        $ 1,249         —    

Liabilities:

               

Derivative financial instruments

     
 		 Accrued expenses and other
current liabilities		   
  		    $ 7         —        $ 7         —    

The following is a description of the valuation techniques used for these assets and liabilities, as well as the level of input used to measure fair value:

Available-for-sale securities – the investments are exchange-traded equity securities. Fair values for these investments are based on closing stock prices from active markets and are therefore classified within Level 1 of the fair value hierarchy.

Derivative financial instruments – these derivatives are foreign currency forward contracts. See Note 4. Fair value is based on observable market inputs, such as forward rates in active markets; therefore, we classify these derivatives within Level 2 of the valuation hierarchy.

There were no transfers in or out of Level 1 and Level 2 during the six months ended June 30, 2016.