Fair Value Measurement (Tables)
 9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis
The following table provides the assets and liabilities carried at fair value measured on a recurring basis at September 30, 2016 and December 31, 2015 (in thousands):
 
Fair Value Measurements at September 30, 2016
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
  Equity method investment - FOX
$
197,742

 
$
197,742

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
Put option of noncontrolling shareholder (1)
(50
)
 
—

 
—

 
(50
)
Put option of noncontrolling shareholders (2)
(50
)
 
—

 
—

 
(50
)
Contingent consideration - acquisitions (3)
(4,830
)
 
—

 
—

 
(4,830
)
Interest rate swap
(18,691
)
 
—

 
(18,691
)
 
—

Total recorded at fair value
$
174,121

 
$
197,742

 
$
(18,691
)
 
$
(4,930
)

(1) 
Represents a put option issued to a noncontrolling shareholder in connection with the 5.11 Tactical acquisition.
(2) 
Represents put options issued to noncontrolling shareholders in connection with the Liberty acquisition.
(3) 
Represents potential earn-outs payable by Sterno Products for the acquisition of NII and Ergobaby in connection with their acquisition of Baby Tula.

 
Fair Value Measurements at December 31, 2015
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Equity method investment - FOX
$
249,747

 
$
249,747

 
$
—

 
$
—

Liabilities:

 

 

 

Put option of noncontrolling shareholders
(50
)
 
—

 
—

 
(50
)
Interest rate swaps
(13,483
)
 
—

 
(13,483
)
 
—

Total recorded at fair value
$
236,214

 
$
249,747

 
$
(13,483
)
 
$
(50
)
Reconciliations of Change in Carrying Value of Level 3 Fair Value Measurements
Reconciliations of the change in the carrying value of the Level 3 fair value measurements from January 1, 2016 through September 30, 2016 are as follows (in thousands):

 
2016
Balance at January 1st
$
(50
)
Contingent consideration - acquisition
(1,500
)
Balance at March 31st
$
(1,550
)
Balance at June 30th
$
(1,550
)
Contingent consideration acquisition
(3,780
)
Put option - noncontrolling shareholder
(50
)
Contingent consideration - payment
450

Balance at September 30th
$
(4,930
)
Fair Value Measurements, Nonrecurring

The following table provides the assets carried at fair value measured on a non-recurring basis as of September 30, 2016.

 
 
 
 
 
 
 
 
 
Expense
 
Fair Value Measurements at September 30, 2016
 
Three months ended
 
Nine months ended
(in thousands)
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
 
September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment (1)
—

 
—

 
—

 
—

 
—

 
375

Tradename (1)
—

 
—

 
—

 
—

 
—

 
20

Technology (1)
—

 
—

 
—

 
—

 
—

 
3,460

Customer relationships (1)
—

 
—

 
—

 
—

 
—

 
2,007

 

(1) Represents the fair value of the respective assets of the Orbitbaby product line. Refer to Note H "Goodwill and Other Intangible Assets" for a description of the loss on disposal of long-lived asset charge recognized during 2016.