Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

	December 31, 2016
(in thousands)		Level 1		Level 2		Level 3		Total
Assets:
Investment in money market funds (1)		$	10	$	-	$	-	$	10
Total assets		$	10	$	-	$	-	$	10

Liabilities:
Contingent consideration		$	-	$	-	$	13,185	$	13,185
Total liabilities		$	-	$	-	$	13,185	$	13,185

	December 31, 2015
(in thousands)		Level 1		Level 2		Level 3		Total
Assets:
Investment in money market funds (1)		$	3,323	$	-	$	-	$	3,323
Total assets		$	3,323	$	-	$	-	$	3,323

Liabilities:
Contingent price consideration		$	-	$	-	$	25,155	$	25,155
Total liabilities		$	-	$	-	$	25,155	$	25,155

(1) Included in cash and cash equivalents in accompanying consolidated balance sheets.

Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

The following table is a reconciliation of the beginning and ending balance of the liabilities measured at fair value using significant unobservable inputs (Level 3) during the years ended December 31, 2016 and 2015.

(in thousands)
Balance at December 31, 2014	$	40,037
(Income) expense included in earnings		(10,884	)
Settlements		(4,803	)
Purchases, sales and issuances		805
Transfers in/(out) of Level 3		-
Balance at December 31, 2015	$	25,155
(Income) expense included in earnings		(10,857	)
Settlements		(1,113	)
Purchases, sales and issuances		-
Transfers in/(out) of Level 3		-
Balance at December 31, 2016	$	13,185