| Fair Value of Assets and Liabilities Measured on a Recurring Basis |
In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company's financial assets and liabilities that are required to be measured at fair value on a recurring basis, as of June 30, 2011 and December 31, 2010, which are classified as cash and cash equivalents, other current assets, other long-term assets, other current liabilities and other long-term liabilities:
| |
|
Fair Value Measurements
at June 30, 2011
|
|
|
Fair Value Measurements
at December 31, 2010
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| |
|
(in thousands) |
|
|
(in thousands) |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
$ |
30,000 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
30,000 |
|
|
$ |
5,000 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,000 |
|
Forward currency contracts |
|
|
- |
|
|
|
7 |
|
|
|
- |
|
|
|
7 |
|
|
|
- |
|
|
|
6 |
|
|
|
- |
|
|
|
6 |
|
Interest rate cap |
|
|
- |
|
|
|
30 |
|
|
|
- |
|
|
|
30 |
|
|
|
- |
|
|
|
167 |
|
|
|
- |
|
|
|
167 |
|
Investments in rabbi trusts |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
Stock options |
|
|
- |
|
|
|
- |
|
|
|
1,927 |
|
|
|
1,927 |
|
|
|
- |
|
|
|
- |
|
|
|
278 |
|
|
|
278 |
|
Total |
|
$ |
30,000 |
|
|
$ |
37 |
|
|
$ |
1,927 |
|
|
$ |
31,964 |
|
|
$ |
8,576 |
|
|
$ |
173 |
|
|
$ |
278 |
|
|
$ |
9,027 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
$ |
- |
|
|
$ |
2,500 |
|
|
$ |
- |
|
|
$ |
2,500 |
|
|
$ |
- |
|
|
$ |
2,119 |
|
|
$ |
- |
|
|
$ |
2,119 |
|
Forward currency contracts |
|
|
- |
|
|
|
2,129 |
|
|
|
- |
|
|
|
2,129 |
|
|
|
- |
|
|
|
2,769 |
|
|
|
- |
|
|
|
2,769 |
|
Contingent consideration |
|
|
- |
|
|
|
- |
|
|
|
7,558 |
|
|
|
7,558 |
|
|
|
- |
|
|
|
- |
|
|
|
17,894 |
|
|
|
17,894 |
|
Other current liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
Total |
|
$ |
- |
|
|
$ |
4,629 |
|
|
$ |
7,558 |
|
|
$ |
12,187 |
|
|
$ |
3,576 |
|
|
$ |
4,888 |
|
|
$ |
17,894 |
|
|
$ |
26,358 |
|
|
| Fair Value of Assets and Liabilities Measured On Recurring Basis Unobservable Input Reconciliation |
The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities for the six months ended June 30, 2011:
| |
|
Stock
Options
|
|
|
Contingent Consideration |
|
| |
|
(in thousands) |
|
Balance as of December 31, 2010 |
|
$ |
278 |
|
|
$ |
(17,894 |
) |
Total gains and losses (realized/unrealized) : |
|
|
|
|
|
|
|
|
Included in earnings (or changes in net assets) |
|
|
1,649 |
|
|
|
8,908 |
|
Purchases |
|
|
- |
|
|
|
1,428 |
|
Balance as of June 30, 2011 |
|
$ |
1,927 |
|
|
$ |
(7,558 |
) |
| |
|
|
|
|
|
|
|
|
The amount of total gains and losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at June 30, 2011 |
|
$ |
1,649 |
|
|
$ |
9,047 |
|
|