Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes our assets and liabilities at March 31, 2018 and December 31, 2017 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	March 31, 2018			December 31, 2017
Deferred compensation plan assets	1	$	86,581		$	85,589
Corporate and municipal bonds	1	$	53,602		$	51,101
Deferred compensation plan liabilities	1	$	(86,581	)	$	(85,589	)
Interest rate swaps	2	$	1,719		$	1,131
Contingent purchase price liabilities	3	$	(44,624	)	$	(37,574	)

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

During the three months ended March 31, 2018 and 2017, 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 three months ended March 31, 2018 and 2017 (pre-tax basis) (in thousands):

	2018			2017
Beginning balance – January 1	$	(37,574	)	$	(33,709	)
Additions from business acquisitions		(8,320	)		(1,661	)
Settlement of contingent purchase price liabilities		2,879			3,564
Change in fair value of contingencies		(1,370	)		(485	)
Change in net present value of contingencies		(239	)		(131	)
Ending balance – March 31	$	(44,624	)	$	(32,422	)