FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Other Investments

At June 30, 2020, the following securities were included in the caption “Other investments”:

June 30, 2020	Cost		Unrealized gains		Unrealized losses		Fair value / carrying value
	($ in thousands)
Private investments and unlisted equities	$	11,339	$	5,325	$	(1,111)	$	15,553
Investment accounted for under the equity method	—		—		—		6,492
Total other investments							$	22,045

At December 31, 2019, the following securities were included in the caption “Other investments”: 

December 31, 2019	Cost		Unrealized gains		Unrealized losses		Fair value / carrying value
	($ in thousands)
Private investments and unlisted equities	$	10,420	$	265	$	(4)	$	10,681
Investment accounted for under the equity method	—		—		—		5,703
Total other investments							$	16,384

Fair Value Hierarchy

The hierarchy is prioritized into three levels (with Level 3 being the lowest) defined as follows:

• Level 1: Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access.

• Level 2: Observable inputs other than 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 with observable market data.

• Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs.