COMMITMENTS AND CONTINGENCIES Contingent Consideration We have recognized liabilities for contingent consideration as of December 31, 2014 in connection with the acquisitions of five entities. The amount payable in cash is based on the entities achieving specific financial metrics or milestones in the development, installation and interconnection of solar energy systems or shipment of solar modules for residential and small commercial installations. We have estimated the fair value of the contingent consideration outstanding as of December 31, 2014 related to acquisitions to be $42.7 million , which reflects a discount at a credit adjusted interest rate for the period of the contingency. That measure is based on significant inputs that are not observable in the market, including a discount rate and a probability adjustment related to the entities' ability to meet operational metrics. During the years ended December 31, 2014 , 2013 and 2012 , we recorded a favorable adjustment to income of $2.9 million , an unfavorable adjustment to income of $5.6 million and an unfavorable adjustment to income of $12.8 million , respectively, related to our contingent consideration liabilities. These adjustments were based on our revised estimates of operational criteria and project milestones being achieved and were recorded to marketing and administration expense. As of December 31, 2014 , the total maximum aggregate exposure is $47.0 million . Of the total amount accrued, $ 25.6 million is recorded in short-term accrued liabilities and $ 17.1 million is recorded in other liabilities as a long-term liability. The following table summarizes changes to the contingent consideration liability, a recurring Level 3 measurement, for the years ended December 31, 2014 , 2013 and 2012 : Contingent Consideration Related to Acquisitions In millions Balance at December 31, 2011 $ (90.8 ) Total unrealized losses included in earnings (1) (15.0 ) Payment of contingent consideration 80.9 Balance at December 31, 2012 $ (24.9 ) Total unrealized l