Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

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

September 30, 2020	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities (a)	$	118	$	19	$	—	$	137
Long-term investments (a)	182,991		—		36,165		219,156
Precious metal and commodity inventories recorded at fair value	27,128		—		—		27,128
Economic interests in loans	—		—		12,458		12,458
Commodity contracts on precious metal and commodity inventories	—		16		—		16
Warrants	—		—		1,893		1,893
Total	$	210,237	$	35	$	50,516	$	260,788
Liabilities:
Commodity contracts on precious metal and commodity inventories	$	—	$	47	$	—	$	47
Other precious metal liabilities	26,470		—		—		26,470
Total	$	26,470	$	47	$	—	$	26,517

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 financial 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	—		203		203
Sales and cash collections	(2,033)		(10,297)		(12,330)
Realized gains	—		3,499		3,499
Unrealized gains	810		—		810
Unrealized losses	(16,043)		—		(16,043)
Balance as of September 30, 2020	$	34,974	$	15,542	$	50,516
Balance as of December 31, 2018	$	40,643	$	21,274	$	61,917
Purchases	14,943		—		14,943
Sales and cash collections	—		(10,869)		(10,869)
Realized gains	—		10,761		10,761
Unrealized gains	2,118		—		2,118
Unrealized losses	(1,752)		—		(1,752)
Balance as of September 30, 2019	$	55,952	$	21,166	$	77,118

(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 (gains) losses on securities, net or Financial services revenue in the Company's consolidated statements of operations.