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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes our assets and liabilities at September 30, 2017 and December 31, 2016 that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value (in thousands):

 

 

 

Level

 

September 30,

2017

 

 

December 31,

2016

 

Deferred compensation plan assets

 

1

 

$

81,720

 

 

$

69,912

 

Corporate and municipal bonds

 

1

 

$

52,458

 

 

$

44,573

 

Deferred compensation plan liabilities

 

2

 

$

81,720

 

 

$

69,912

 

Interest rate swaps

 

2

 

$

659

 

 

$

529

 

Contingent purchase price liabilities

 

3

 

$

(39,370

)

 

$

(33,709

)

 
Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

 

During the nine months ended September 30, 2017 and 2016, there were no transfers between the valuation hierarchy Levels 1, 2 and 3. The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the nine months ended September 30, 2017 and 2016 (pre-tax basis) (in thousands):

 

 

 

2017

 

 

2016

 

Beginning balance – January 1

 

$

(33,709

)

 

$

(24,817

)

Additions from business acquisitions

 

 

(17,526

)

 

 

(17,755

)

Settlement of contingent purchase price liabilities

 

 

11,644

 

 

 

7,945

 

Change in fair value of contingencies

 

 

651

 

 

 

936

 

Amortization of discount on contingent earnout liability

 

 

(430

)

 

 

(223

)

Ending balance – September 30

 

$

(39,370

)

 

$

(33,914

)