XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2016
Fair Value of Assets and Liabilities Measured on Recurring Basis | The Company measures certain financial assets and liabilities, including derivative instruments, at fair value on a recurring basis. The fair value measurements of these items were determined using the following inputs as of December 31, 2015 and March 31, 2016:
|  | As of March 31, 2016 |
|  | Fair Value Measurements at Reporting Date Using |
|  |  |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Other Unobservable Inputs |
|  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments (Note a, c) |  | $ | 33,467 |  |  | $ | — |  |  | $ | 33,467 |  |  | $ | — |
Total |  | $ | 33,467 |  |  | $ | — |  |  | $ | 33,467 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earn-out consideration (Note b, d) |  | $ | 20,853 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,853 |
Derivative instruments (Note b, c) |  | $ | 59,110 |  |  | $ | — |  |  | $ | 59,110 |  |  | $ | — |
Total |  | $ | 79,963 |  |  | $ | — |  |  | $ | 59,110 |  |  | $ | 20,853 |
Redeemable non-controlling interest (Note e) |  | $ | 3,621 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,621 |
|  | As of December 31, 2015 |
|  | Fair Value Measurements at Reporting Date Using |
|  |  |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Other Unobservable Inputs |
|  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments (Note a, c) |  | $ | 30,380 |  |  | $ | — |  |  | $ | 30,380 |  |  | $ | — |
Total |  | $ | 30,380 |  |  | $ | — |  |  | $ | 30,380 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earn-out consideration (Note b, d) |  | $ | 22,820 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,820 |
Derivative instruments (Note b, c) |  | $ | 59,620 |  |  | $ | — |  |  | $ | 59,620 |  |  | $ | — |
Total |  | $ | 82,440 |  |  | $ | — |  |  | $ | 59,620 |  |  | $ | 22,820 |
(a) | Included in prepaid expenses and other current assets and other assets in the consolidated balance sheets.
(b) | Included in accrued expenses and other current liabilities and other liabilities in the consolidated balance sheets.
(c) | The Company values its derivative instruments based on market observable inputs, including both forward and spot prices for the relevant currencies and interest rate indices for relevant interest rates. The quotes are taken from an independent market database.
(d) | The fair value of earn-out consideration, calculated as the present value of expected future payments to be made to the sellers of the acquired businesses, was derived by estimating the future financial performance of the acquired businesses using the earn-out formula and performance targets specified in each purchase agreement and adjusting the result to reflect the Company’s estimate of the likelihood of achievement of such targets. Given the significance of the unobservable inputs, the valuations are classified in level 3 of the fair value hierarchy.
(e) | The Company’s estimate of the fair value of redeemable non-controlling interest as of March 31, 2016 is based on unobservable inputs considering the assumptions that market participants would make in pricing the obligation. Given the significance of the unobservable inputs, the valuation was classified in level 3 of the fair value hierarchy. Refer to Note 3—Business Acquisitions.
Fair Value of Contingent Consideration | The following table provides a roll-forward of the fair value of the contingent consideration categorized as level 3 for the three months ended March 31, 2015 and 2016:
|  | Three months ended March 31, |
|  | 2015 |  |  | 2016 |
Opening Balance |  | $ | 33,990 |  |  | $ | 22,820 |
Earn-out consideration payable in connection with acquisitions |  |  | — |  |  |  | 8,120 |
Payments made on earn-out consideration |  |  | (126 | ) |  |  | (965 | )
Change in fair value and others |  |  | (449 | ) |  |  | (9,122 | )
Ending balance |  | $ | 33,415 |  |  | $ | 20,853 |

X
- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration