XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

FAIR VALUE | 9 Months Ended
--- | ---
Sep. 30, 2018
Fair Value Disclosures [Abstract] |
FAIR VALUE | FAIR VALUE The following table provides a summary of assets and liabilities as of September 30, 2018, measured at fair value on a recurring basis:
Description |  | Balance as of September 30, 2018 |  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 5,544 |  |  | $ | — |  |  | $ | 5,544 |  |  | $ | — |
Marketable securities |  | 99,282 |  |  | — |  |  | 99,282 |  |  | — |
Total assets |  | $ | 104,826 |  |  | $ | — |  |  | $ | 104,826 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 804 |  |  | $ | — |  |  | $ | 804 |  |  | $ | — |
Interest rate swap agreements |  | 10,871 |  |  | — |  |  | 10,871 |  |  | — |
Contingent consideration |  | 2,100 |  |  | — |  |  | — |  |  | 2,100 |
Deferred compensation |  | 27,385 |  |  | — |  |  | 27,385 |  |  | — |
Total liabilities |  | $ | 41,160 |  |  | $ | — |  |  | $ | 39,060 |  |  | $ | 2,100 |
The following table provides a summary of assets and liabilities as of December 31, 2017, measured at fair value on a recurring basis:
Description |  | Balance as of December 31, 2017 |  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 2,776 |  |  | $ | — |  |  | $ | 2,776 |  |  | $ | — |
Marketable securities |  | 179,125 |  |  | — |  |  | 179,125 |  |  | — |
Total assets |  | $ | 181,901 |  |  | $ | — |  |  | $ | 181,901 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 4,351 |  |  | $ | — |  |  | $ | 4,351 |  |  | $ | — |
Interest rate swap agreements |  | 5,085 |  |  | — |  |  | 5,085 |  |  | — |
Contingent considerations |  | 7,086 |  |  | — |  |  | — |  |  | 7,086 |
Deferred compensation |  | 25,397 |  |  | — |  |  | 25,397 |  |  | — |
Total liabilities |  | $ | 41,919 |  |  | $ | — |  |  | $ | 34,833 |  |  | $ | 7,086 |
During the nine months ended September 30, 2018, there were no transfers between Levels 1, 2 or 3. The Company’s derivative contracts are valued at fair value using the market approach. The Company measures the fair value of foreign exchange contracts, net investment contracts and interest rate swap agreements using Level 2 inputs based on observable spot and forward rates in active markets. The Company measures the fair value of marketable securities using Level 2 inputs based on quoted market prices for similar assets in active markets. In connection with acquisitions, the Company recorded contingent consideration liabilities, which will be paid based upon actual financial results of the acquired entity for specified future periods. The fair value of the contingent considerations are a Level 3 valuation and fair valued using either a probability weighted discounted cash flow analysis or an option pricing model. The deferred compensation liability is the Company’s obligation under its executive deferred compensation plan. The Company measures the fair value of the liability using the market values of the participants’ underlying investment fund elections. The fair value of Cash and cash equivalents, Accounts receivable, Short-term debt excluding the current portion of long-term debt and Trade accounts payable approximated book value due to the short-term nature of these instruments at both September 30, 2018 and December 31, 2017. The fair value of long-term debt at September 30, 2018 and December 31, 2017, including the current portion, was approximately $631,600 and $687,428, respectively, which was determined using available market information and methodologies requiring judgment. The carrying value of this debt at such dates was $698,578 and $704,247, respectively. Since considerable judgment is required in interpreting market information, the fair value of the debt is not necessarily the amount that could be realized in a current market exchange.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration