Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

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Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize our financial assets and liabilities that are measured at fair value on a recurring basis and the fair value measurements, by level, within the fair value hierarchy as of December 31, 2015 and 2014, respectively:

			Fair Value Measurements Using:
As of December 31, 2015	Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(in thousands)
Assets:
Investments—equity securities	$	18	$	18	$	—	$	—
Investments—guaranteed income fund	$	279	$	—	$	—	$	279
Investments—mutual funds and other	$	3,347	$	3,347	$	—	$	—
Mark-to-market energy assets, including put options	$	153	$	—	$	153	$	—
Liabilities:
Mark-to-market energy liabilities, including swap agreements and natural gas futures contracts	$	433	$	—	$	433	$	—

			Fair Value Measurements Using:
As of December 31, 2014	Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(in thousands)
Assets:
Investments—guaranteed income fund	$	287	$	—	$	—	$	287
Investments—mutual funds and other	$	3,391	$	3,391	$	—	$	—
Mark-to-market energy assets, including put and call options	$	1,055	$	—	$	1,055	$	—
Liabilities:
Mark-to-market energy liabilities including swap agreements	$	1,018	$	—	$	1,018	$	—

The following valuation techniques were used to measure fair value assets in the tables above on a recurring basis as of December 31, 2015 and 2014:

Level 1 Fair Value Measurements:

Investments - equity securities — The fair values of these trading securities are recorded at fair value based on unadjusted quoted prices in active markets for identical securities.

Investments - mutual funds and other — The fair values of these investments, comprised of money market and mutual funds, are recorded at fair value based on quoted net asset values of the shares.

Level 2 Fair Value Measurements:

Mark-to-market energy assets and liabilities — These forward contracts are valued using market transactions in either the listed or OTC markets.

Propane put/call options, swap agreements and natural gas futures contracts – The fair value of the propane put/call options, swap agreements and natural gas futures contracts are measured using market transactions for similar assets and liabilities in either the listed or OTC markets.

Level 3 Fair Value Measurements:

Investments - guaranteed income fund — The fair values of these investments are recorded at the contract value, which approximates their fair value.

Schedule of Changes in Fair Value of Plan Assets

The following table sets forth the summary of the changes in the fair value of Level 3 investments for the years ended December 31, 2015 and 2014:

	For the Year Ended December 31,
	2015			2014
(in thousands)
Beginning Balance	$	287		$	458
Purchases and adjustments	69			76
Transfers/Disbursements	(82		)	(253		)
Investment income	5			6
Ending Balance	$	279		$	287