Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs we utilized to determine such fair value as of March 31, 2015 and December 31, 2014 (in thousands):



	Balance as of March 31, 2015		Fair Value Measurements as of March 31, 2015
	Balance as of March 31, 2015		Level 1		Level 2		Level 3
Assets:
Cash surrender value of life insurance	$	31,077	$	—	$	31,077	$	—
Total Assets	$	31,077	$	—	$	31,077	$	—
Liabilities:
Contingent consideration liabilities	$	5,561	$	—	$	—	$	5,561
Deferred compensation liabilities	30,074		—		30,074		—
Interest rate swaps	4,723		—		4,723		—
Total Liabilities	$	40,358	$	—	$	34,797	$	5,561



	Balance as of December 31, 2014		Fair Value Measurements as of December 31, 2014
	Balance as of December 31, 2014		Level 1		Level 2		Level 3
Assets:
Cash surrender value of life insurance	$	28,242	$	—	$	28,242	$	—
Total Assets	$	28,242	$	—	$	28,242	$	—
Liabilities:
Contingent consideration liabilities	$	7,295	$	—	$	—	$	7,295
Deferred compensation liabilities	27,580		—		27,580		—
Interest rate swaps	5,218		—		5,218		—
Total Liabilities	$	40,093	$	—	$	32,798	$	7,295

Significant Unobservable Inputs Used In Fair Value Measurements

The significant unobservable inputs used in the fair value measurements of our Level 3 contingent consideration liabilities were as follows:



	March 31,		December 31,
	2015		2014
Unobservable Input	(Weighted Average)
Probability of achieving payout targets	75.0	%	79.1	%
Discount rate	7.5	%	7.5	%

Changes In Fair Value Of Contingent Consideration Obligations

Changes in the fair value of our contingent consideration obligations are as follows (in thousands):



	Three Months Ended
	March 31,
	2015			2014
Beginning Balance	$	7,295		$	55,653
Contingent consideration liabilities recorded for business acquisitions	—			4,317
Payments	(1,667		)	(2,006		)
Increase (decrease) in fair value included in earnings	151			(1,222		)
Exchange rate effects	(218		)	349
Ending Balance	$	5,561		$	57,091

- 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.

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