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Performance-Based Common Stock Warrants (Tables) | 6 Months Ended
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Jun. 30, 2017
Equity [Abstract] |
Schedule of Purchase Level and Number of Warrants That Will Vest | The table below presents the purchase levels and number of warrants that will vest in each period based upon achieving these purchase levels.
| Incremental Warrants That Will Vest
Aggregate Level of Purchases by Comcast and Affiliates | January 1, 2016 - December 31, 2017 |  | January 1, 2018 - December 31, 2019 |  | January 1, 2020 - December 31, 2021
$260 million | 100,000 |  |  | 100,000 |  |  | 75,000 |
$300 million | 75,000 |  |  | 75,000 |  |  | 75,000 |
$340 million | 75,000 |  |  | 75,000 |  |  | 75,000 |
Maximum Potential Warrants Earned by Comcast | 250,000 |  |  | 250,000 |  |  | 225,000 |
Schedule of Fair Value Assumptions Used | The fair value of the warrants is determined using the Black-Scholes option pricing model. The assumptions we utilized and the resulting fair value of the warrants were the following:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Fair value | $ | 28.89 |  |  | $ | 35.88 |  |  | $ | 28.89 |  |  | $ | 35.88 |
Price of Universal Electronics Inc. common stock | $ | 67.21 |  |  | $ | 71.16 |  |  | $ | 67.21 |  |  | $ | 71.16 |
Risk-free interest rate | 1.95 | % |  | 1.22 | % |  | 1.95 | % |  | 1.22 | %
Expected volatility | 35.05 | % |  | 41.17 | % |  | 35.05 | % |  | 41.17 | %
Expected life in years | 5.50 |  |  | 6.50 |  |  | 5.50 |  |  | 6.50 |
Schedule of Impact to Net Sales Due to Warrants |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Fair value | $ | 28.89 |  |  | $ | 35.88 |  |  | $ | 28.89 |  |  | $ | 35.88 |
Price of Universal Electronics Inc. common stock | $ | 67.21 |  |  | $ | 71.16 |  |  | $ | 67.21 |  |  | $ | 71.16 |
Risk-free interest rate | 1.95 | % |  | 1.22 | % |  | 1.95 | % |  | 1.22 | %
Expected volatility | 35.05 | % |  | 41.17 | % |  | 35.05 | % |  | 41.17 | %
Expected life in years | 5.50 |  |  | 6.50 |  |  | 5.50 |  |  | 6.50 |
The impact to net sales recorded in connection with the warrants and the related income tax benefit were as follows:

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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 + Details
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