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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of March 31, 2018 and December 31, 2017, consisted of the following (in thousands):

						Fair Value Measurements Using
		Total Fair				Quoted prices in				Significant other				Significant
		Value at				active markets				observable inputs				unobservable inputs
Description		March 31, 2018				(Level 1)				(Level 2)				(Level 3)
Interest rate contracts (1)		$	7,657			$	—			$	7,657			$	—
Foreign currency contract assets, current and long-term (2)		$	1,095			$	—			$	1,095			$	—
Foreign currency contract liabilities, current and long-term (3)		$	(1,059	)		$	—			$	(1,059	)		$	—
						Fair Value Measurements Using
		Total Fair				Quoted prices in				Significant other				Significant
		Value at				active markets				observable inputs				unobservable inputs
Description		December 31, 2017				(Level 1)				(Level 2)				(Level 3)
Interest rate contracts (1)		$	5,749			$	—			$	5,749			$	—
Foreign currency contract assets, current and long-term (2)		$	621			$	—			$	621			$	—
Foreign currency contract liabilities, current and long-term (3)		$	(1,391	)		$	—			$	(1,391	)		$	—

(1)    The fair value of the interest rate contracts is determined using Level 2 fair value inputs and is recorded as other assets or other long-term obligations in the consolidated balance sheets.

(2)    The fair value of the foreign currency contract assets (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as prepaid expenses and other assets or other long-term assets in the consolidated balance sheets.

(3)    The fair value of the foreign currency contract liabilities (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as accrued expenses or other long-term obligations in the consolidated balance sheets.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the fair value of our contingent consideration liability during the three-month periods ended March 31, 2018 and 2017, consisted of the following (in thousands):

	Three Months Ended March 31,
	2018				2017
Beginning balance	$	10,956			$	683
Fair value adjustments recorded to income during the period	(13		)		37
Contingent payments made	(15		)		(15		)
Ending balance	$	10,928			$	705

Fair Value Inputs, Liabilities, Quantitative Information

The recurring Level 3 measurement of our contingent consideration liability and contingent receivable includes the following significant unobservable inputs at March 31, 2018 and December 31, 2017 (amounts in thousands):

Contingent consideration asset or liability		Fair value at March 31, 2018				Valuation technique		Unobservable inputs		Range
Revenue-based payments		$	10,928			Discounted cash flow		Discount rate		9.9% - 15%
contingent liability								Probability of milestone payment		100%
								Projected year of payments		2018-2037
Contingent receivable		$	553			Discounted cash flow		Discount rate		10%
asset								Probability of milestone payment		64%
								Projected year of payments		2018-2019
Contingent consideration asset or liability		Fair value at December 31, 2017				Valuation technique		Unobservable inputs		Range
Revenue-based payments		$	10,956			Discounted cash flow		Discount rate		9.9% - 15%
contingent liability								Probability of milestone payment		100%
								Projected year of payments		2018-2037
Contingent receivable		$	760			Discounted cash flow		Discount rate		10%
asset								Probability of milestone payment		75%
								Projected year of payments		2018-2019

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- References

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- Definition

Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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- 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=66048111&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=66048111&loc=d3e19207-110258

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- 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=66048111&loc=d3e19190-110258

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