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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities | The following table represents the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):
|  | Fair Value Measurements |
|  | As of December 31, 2018 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds (1) |  | $ | 255 |  |  | $ | — |  |  | $ | — |  |  | $ | 255 |
Total Assets |  | $ | 255 |  |  | $ | — |  |  | $ | — |  |  | $ | 255 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent purchase price (2) |  | $ | — |  |  | $ | — |  |  | $ | (4,196 | ) |  | $ | (4,196 | )
Total Liabilities |  | $ | — |  |  | $ | — |  |  | $ | (4,196 | ) |  | $ | (4,196 | )
|  | Fair Value Measurements |
|  | As of December 31, 2017 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds (1) |  | $ | 492 |  |  | $ | — |  |  | $ | — |  |  | $ | 492 |
Federal agency obligations |  |  | — |  |  |  | 1,793 |  |  |  | — |  |  |  | 1,793 |
Corporate obligations (3) |  |  | — |  |  |  | 52,540 |  |  |  | — |  |  |  | 52,540 |
Total Assets |  | $ | 492 |  |  | $ | 54,333 |  |  | $ | — |  |  | $ | 54,825 |
(1) | Included in cash and cash equivalents.
(2) | $1.8 million is included in accrued expenses and other current liabilities and $2.4 million is included in non-current liabilities in the Consolidated Balance Sheet.
(3) | All corporate obligations were sold in December 2018, resulting in a loss of $0.2 million that was recorded in other income, net in the Consolidated Statements of Income. These investments were sold to fund a portion of the purchase of SiriusDecisions (refer to Note 15 – Subsequent Events).
Summary of Changes in the Fair Value of Level 3 Contingent Consideration | Changes in the fair value of Level 3 contingent consideration for the year ended December 31, 2018 were as follows (in thousands):
| Contingent |
| Consideration |
Acquisition of FeedbackNow (1) | $ | (3,388 | )
Fair value adjustment of FeedbackNow (2) (3) |  | (780 | )
Foreign exchange effect |  | (28 | )
Balance at December 31, 2018 | $ | (4,196 | )
(1) | See Note 2 – Acquisitions, for a discussion of the fair value of the earnout as of the acquisition date.
(2) | In the period subsequent to the acquisition of FeedbackNow on July 6, 2018, the fair value of the contingent consideration increased by $0.8 million due primarily to the achievement of contract bookings during this period. This amount was recognized as acquisition and integration costs within the Consolidated Statements of Income.
(3) | As of December 31, 2018, the significant unobservable inputs used in the Monte Carlo simulation to fair value the contingent consideration included projected contract bookings, a discount rate of 23.8%, and revenue volatility of 21.9%. Increases or decreases in the inputs would result in a higher or lower fair value measurement.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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