FAIR VALE MEASUREMENTS
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
FAIR VALE MEASUREMENTS
NOTE D – FAIR VALUE MEASUREMENTS

 

We account for certain assets at fair value. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. We categorize each of our fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are:

 

Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets.

 

Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

 

Level 3—Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

 

Assets measured at fair value on a recurring basis comprise only investments in short-term US Treasury Funds of $0 and $15.5 million as of December 31, 2016 and 2015, respectively. The investments were classified as available for sale debt securities included in cash and cash equivalents in the consolidated balance sheets and are categorized as Level 1 measurements in the fair value hierarchy. We do not have any liabilities measured at fair value on a recurring basis.  
 

The following table summarizes assets measured at fair value on a nonrecurring basis during the year ended December 31, 2016 and 2015 (in thousands):

 

  2016 
  Fair     Total 
  Value  Level 3  Losses 
June 30, 2016            
DIY Reporting Unit            
Technology $164  $164  $81 
Goodwilll  1,441   1,441   215 
December 1, 2016            
Omnilink Reporting Unit            
Indefinite lived trade names  918   918   2,054 
Goodwill  7,925   7,925   9,655 
Total  nonrecurring fair value measurements $10,448  $10,448  $12,005 

 

 

  2015 
  Fair     Total 
  Value  Level 3  Losses 
September 30, 2015            
DIY Reporting Unit            
Amortizing Intangible Assets $825  $825  $446 
Goodwilll  1,656   1,656   924 
October 1, 2015            
Omnilink Reporting Unit            
Amortizing intangible assets  4,900   4,900   660 
Indefinite lived trade names  2,972   2,972   682 
Total  nonrecurring fair value measurements $10,353  $10,353  $2,712 

 

See Note J – Intangible Assets for more information.