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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Fair Values of Financial Assets and Liabilities

The fair values of financial assets and liabilities that are recorded at fair value in the Condensed Consolidated Balance Sheets and not described above were as follows (in thousands):


	As of June 30, 2019								As of December 31, 2018
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Financial assets:
Cash equivalents	$	74,271	$	74,271	$	—	$	—	$	69,807	$	69,807	$	—	$	—
Derivative financial instruments		—		—		—		—		1,765		—		1,765		—

Total financial assets	$	74,271	$	74,271	$	—	$	—	$	71,572	$	69,807	$	1,765	$	—

Financial liabilities:
Derivative financial instruments	$	8,907	$	—	$	8,907	$	—	$	2,275	$	—	$	2,275	$	—
Contingent consideration		3,416		—		—		3,416		5,098		—		—		5,098

Total financial liabilities	$	12,323	$	—	$	8,907	$	3,416	$	7,373	$	—	$	2,275	$	5,098

Summary of Change in Fair Value of Contingent Consideration

The change in fair value of the contingent consideration (a Level 3 input) was as follows (in thousands):


Contingent consideration liability - January 1, 2019	$	5,098
Preliminary purchase price		1,525
Fair value adjustments		(290	)
Accretion in value		324
Amounts paid to sellers		(3,241	)

Contingent consideration liability - June 30, 2019	$	3,416

Summary of Carrying Values and Associated Fair Values of Financial Assets and Liabilities

The carrying values and associated fair values of financial assets and liabilities that are not recorded at fair value in the Condensed Consolidated Balance Sheets and not described above include investments which represent a Level 2 fair value measurement and are as follows (in thousands):


	As of June 30, 2019				As of December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:
Investments	$	9,923	$	9,928	$	10,060	$	10,053