Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

Assets and liabilities measured at fair value on a recurring basis in the Company's consolidated financial statements as of June 30, 2020 and December 31, 2019 are summarized by type of inputs applicable to the fair value measurements as follows:

June 30, 2020	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities (a)	$	139	$	16	$	—	$	155
Long-term investments (a)	180,609		—		34,110		214,719
Precious metal and commodity inventories recorded at fair value	22,013		—		—		22,013
Economic interests in loans	—		—		14,646		14,646
Warrants	—		—		2,086		2,086
Total	$	202,761	$	16	$	50,842	$	253,619
Liabilities:
Commodity contracts on precious metal and commodity inventories	$	—	$	78	$	—	$	78
Other precious metal liabilities	7,904		—		—		7,904
Total	$	7,904	$	78	$	—	$	7,982

December 31, 2019	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities (a)	$	170	$	50	$	—	$	220
Long-term investments (a)	222,178		—		53,658		275,836
Precious metal and commodity inventories recorded at fair value	11,377		—		—		11,377
Economic interests in loans	—		—		18,633		18,633
Warrants	—		—		2,086		2,086
Total	$	233,725	$	50	$	74,377	$	308,152
Liabilities:
Commodity contracts on precious metal and commodity inventories	$	—	$	381	$	—	$	381
Other precious metal liabilities	11,481		—		—		11,481
Total	$	11,481	$	381	$	—	$	11,862

(a) For additional detail of the marketable securities and long-term investments see Note 8 - "Investments."

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Following is a summary of changes in assets measured using Level 3 inputs:

	Investments in Associated Companies (a)		Marketable Securities and Other (b)		Total
Balance as of December 31, 2019	$	52,240	$	22,137	$	74,377
Purchases	—		204		204
Sales and cash collections	(2,033)		(6,847)		(8,880)
Realized gains	—		2,660		2,660
Unrealized gains	810		—		810
Unrealized losses	(18,329)		—		(18,329)
Balance as of June 30, 2020	$	32,688	$	18,154	$	50,842
Balance as of December 31, 2018	$	40,643	$	21,274	$	61,917
Purchases	14,943		—		14,943
Sales and cash collections	—		(7,557)		(7,557)
Realized gains	—		6,677		6,677
Unrealized gains	883		—		883
Balance as of June 30, 2019	$	56,469	$	20,394	$	76,863

(a) Unrealized gains and losses are recorded in (Income) loss of associated companies, net of taxes in the Company's consolidated statements of operations.

(b) Realized and unrealized gains and losses are recorded in Realized and unrealized losses (gains) on securities, net or Financial services revenue in the Company's consolidated statements of operations.