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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of fair value hierarchy for financial assets measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized as follows (in thousands):



	Level 1		Level 2		Level 3		Total
December 31, 2019:
Asset retirement obligations ⁽¹⁾	$	—	$	—	$	2,322	$	2,322


December 31, 2018:
Available-for-sale securities	—		2,309		—		2,309
Asset retirement obligations ⁽¹⁾	$	—	$	—	$	2,090	$	2,090


⁽¹⁾	We calculated the fair value of asset retirement obligations ("ARO") by discounting the estimated amount using the Treasury bill rate adjusted for our credit risk. At December 31, 2019 and 2018, the balance is included in "Other long-term liabilities," in the accompanying consolidated balance sheets.

Schedule of changes in asset retirement obligations

The following table provides a summary of changes in our Level 3 asset retirement obligations (in thousands):



	2019		2018		2017
Balance, January 1	$	2,090	$	1,936	$	2,810
Accretion	232		154		197
Subsequent revision of estimated obligation	—		—		449
Payments	—		—		(1,520		)
Balance, December 31	$	2,322	$	2,090	$	1,936

Fair Value, by Balance Sheet Grouping

The fair values of our Level 2 available-for-sale debt securities, based upon quoted prices for similar items in active markets, are as follows (in thousands):



	December 31, 2019
	Cost		Unrealized Gain		Unrealized Loss			Converted to Cash			Fair Value
Japanese Corporate Bonds	$	2,221	$	198	$	(156	)	$	(2,263	)	$	—
Japanese Government Bonds	88		7		(6		)	(89		)	—
Total Bonds	$	2,309	$	205	$	(162	)	$	(2,352	)	$	—

	December 31, 2018
	Cost		Unrealized Gain		Unrealized Loss			Converted to Cash			Fair Value
Japanese Corporate Bonds	$	2,184	$	144	$	(107	)	$	—		$	2,221
Japanese Government Bonds	87		5		(4		)	—			88
Total Bonds	$	2,271	$	149	$	(111	)	$	—		$	2,309

Schedule of fair value of term loan and revolving credit facility

The fair values of our other Level 2 debt liabilities, based upon quoted prices for our term loans, are as follows (in thousands):



	December 31,
	2019				2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Term loan	$	425,856	$	262,966	$	429,143	$	428,071
Revolving credit facility	20,000		12,350		—		—