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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2017
FAIR VALUE MEASUREMENTS

8. FAIR VALUE MEASUREMENTS

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

 

     Balance Sheet Location      Total      Fair Value Measurements
at June 30, 2017 Using		  
           Level 1      Level 2      Level 3  

Assets:

               

Available-for-sale securities

      Other assets      $ 286      $ 286      $ —      $ —  

Liabilities:

               

Derivative financial instruments

     
 Accrued expenses and other
current liabilities		  
 		    $ 1,223      $ —      $ 1,223      $ —  
     Balance Sheet Location      Total      Fair Value Measurements
at December 31, 2016 Using		  
           Level 1      Level 2      Level 3  

Assets:

               

Available-for-sale securities

      Other assets      $ 281      $ 281      $ —      $ —  

Derivative financial instruments

      Other current assets      $ 241      $ —      $ 241      $ —  

Liabilities:

               

Derivative financial instruments

     
 Accrued expenses and other
current liabilities		  
 		    $ 39      $ —      $ 39      $ —  

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 7. 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, 2017.