Note 9 - Fair Value Measurements
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
9.
Fair Value Measurements
 
The fair value of liabilities measured at fair value on a recurring basis was
zero
at
December
31,
2016
and
2015.
There were no transfers between Level
1
and Level
2,
or into or out of Level
3,
during
2016
and
2015.
 
The changes in Level
3
liabilities measured at fair value on a recurring basis were as follows for the years ended
December
31,
2015
and
2014:
 
   
Contingent Consideration Liabilities
  
 
 
December 31, 2015
 
 
December 31, 2014
 
Balance at the beginning of year
   $
10,549
    $
-
 
Initial valuation upon acquistion
    
-
     
30,095
 
Payments
    
(7,496
 )    
-
 
Gain in general and administrative expense
    
(2,469
 )    
(16,314
 )
Foreign exchange revaluation
    
(584
 )    
(3,232
 )
Balance at end of year
   $
-
    $
10,549
 
 
 
There were no events that occurred during the year ended
December
31,
2016
that would indicate a fair value greater than
zero
for the contingent consideration liabilities. The valuation techniques and significant unobservable inputs used in recurring Level
3
fair value measurements were as follows at
December
31,
2015:
 
 
 
 
 
 
 
Significant
 
 
 
 
December 31, 2015
 
Fair Value
 
Valuation Technique
Unobservable Inputs
 
Value
 
Contingent consideration liabilities
   $
-
 
Discounted probability-weighted approach
Discount rate
    
14.12
 %
 
 
Financial liabilities that were not remeasured at fair value were as follows:
 
         
December 31, 2016
    
December 31, 2015
  
 
 
Fair Value
 
 
Carrying
 
 
Estimated
 
 
Carrying
 
 
Estimated
 
 
 
Level
 
 
Value
 
 
Fair Value
 
 
Value
 
 
Fair Value
 
Financial liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit facility
    
3
     $
-
    $
-
    $
304,950
    $
308,892