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Fair Value Measurement (Tables)

9 Months Ended

Sep. 27, 2015

Fair Value Measurements

Summary of Financial Liability Measured at Fair Value on a Recurring Basis

The table below summarizes CTS’ financial liability that was measured at fair value as of three month period September 27, 2015 and the loss recorded during the nine month period ended September 27, 2015:  

Quoted

Prices

in Active

Significant

Carrying

Markets for

Other

Significant

Loss for

Value at

Identical

Observable

Unobservable

Nine Months Ended

September 27,

Instruments

Inputs

Inputs

September 27,

($ in thousands)

2015

(Level 1)

(Level 2)

(Level 3)

2015

Interest rate swap – cash flow hedge

$

1,074

$

—

$

1,074

$

—

$

574

The table below summarizes the financial liability that was measured at fair value on a recurring basis as of December 31, 2014 and the loss recorded during the year ended December 31, 2014:

Quoted

Prices

in Active

Significant

Carrying

Markets for

Other

Significant

Loss for

Value at

Identical

Observable

Unobservable

Year Ended

December 31,

Instruments

Inputs

Inputs

December 31,

($ in thousands)

2014

(Level 1)

(Level 2)

(Level 3)

2014

Interest rate swap – cash flow hedge

$

1,020

$

—

$

1,020

$

—

$

488

Reconciliation of Recurring Financial Liability Related to Interest Rate Swaps

		Interest
($ in thousands)		Rate Swaps
Balance at January 1, 2014		$	(998)
Total gains (losses) for the period:
Included in earnings			488
Included in other comprehensive earnings			(510)
Balance at December 31, 2014		$	(1,020)
Total gains (losses) for the period:
Included in earnings			574
Included in other comprehensive earnings			(628)
Balance at September 27, 2015		$	(1,074)

X

- References

No definition available.

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- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ 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



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (a),(b)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 815



-SubTopic 10



-Section 50



-Paragraph 4C



-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 815



-SubTopic 10



-Section 50



-Paragraph 4A



-Subparagraph (b)



-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959

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