Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.10.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Assets and liabilities at Fair Value on Recurring Basis

Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands):

 

    December 31, 2018     December 31, 2017  
    Fair Value     Level 1     Level 2     Level 3     Fair Value     Level 1     Level 2     Level 3  

Assets:

                

Assets held in rabbi trust

   $ 8,268     $ —       $ 8,268     $ —       $ 8,787     $ —       $ 8,787     $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash equivalents(1):

                

Commercial paper and other

   $ 1,599     $ 1,599     $ —       $ —       $ 11,441     $ —       $ 11,441     $ —    

Money market funds

     163,126       163,126       —         —         157,788       157,788       —         —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
  $ 164,725     $ 164,725     $ —       $ —       $ 169,229     $ 157,788     $ 11,441     $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Marketable securities, available-for-sale:

                

Short-term investments:

                

U.S. treasuries

   $ 121,180     $ 121,180     $ —       $ —       $ 57,624     $ 57,624     $ —       $ —    

U.S. government sponsored entities

     3,505       —         3,505       —         7,008       —         7,008       —    

Corporate debt securities

     11,951       —         11,951       —         8,928       —         8,928       —    

Asset-backed securities and other

     800       —         800       —         —         —         —         —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
  $ 137,436     $ 121,180     $ 16,256     $ —       $ 73,560     $ 57,624     $ 15,936     $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Long-term investments:

                

U.S. treasuries

   $ 45,010     $ 45,010     $ —       $ —       $ 17,954     $ 17,954     $ —       $ —    

U.S. government sponsored entities

     1,507       —         1,507       —         5,244       —         5,244       —    

Corporate debt securities

     31,837       —         31,837       —         22,719       —         22,719       —    

Asset-backed securities and other

     4,855       —         4,855       —         6,182       —         6,182       —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
  $ 83,209     $ 45,010     $ 38,199     $ —       $ 52,099     $ 17,954     $ 34,145     $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities:

                

Contingent consideration(2)

   $ 2,875     $ —       $ —       $ 2,875     $ —       $ —       $ —       $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Deferred compensation liability

   $ 7,893     $ 7,893     $ —       $ —       $ 8,481     $ 8,481     $ —       $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)

Included in cash and cash equivalents on the accompanying consolidated balance sheets.
(2)

Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out payments will be made over the next three to seven-year period. A reconciliation of contingent consideration measured at fair value on a recurring basis consisted of the following (in thousands):
Schedule of Reconciliation of Contingent Consideration Measured at Fair Value on Recurring Basis

A reconciliation of contingent consideration measured at fair value on a recurring basis consisted of the following (in thousands):

 

     December 31,  
     2018      2017  

Beginning balance

    $ —        $ —    

Contingent consideration in connection with acquisitions

      2,674        —    

Change in fair value of contingent consideration

      201        —    

Payments of contingent consideration

      —          —    
  

 

 

     

 

 

  

Ending balance

    $ 2,875      $ —