Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

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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, 2019 and 2018, respectively:

			Fair Value Measurements Using:
As of December 31, 2019	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	$	27	$	27	$	—	$	—
Investments—guaranteed income fund	803		—		—		803
Investments—mutual funds and other	8,399		8,399		—		—
Total investments	9,229		8,426		—		803
Derivative assets	—		—		—		—
Total assets	$	9,229	$	8,426	$	—	$	803
Liabilities:
Derivative liabilities	$	1,844	$	—	$	1,844	$	—

			Fair Value Measurements Using:
As of December 31, 2018	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	$	22	$	22	$	—	$	—
Investments—guaranteed income fund	686		—		—		686
Investments—mutual funds and other	6,003		6,003		—		—
Total investments	6,711		6,025		—		686
Derivative assets (1)	82		—		82		—
Total assets	$	6,793	$	6,025	$	82	$	686
Liabilities:
Derivative liabilities (1)	$	1,604	$	—	$	1,604	$	—

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, 2019 and 2018:

	For the Year Ended December 31,
	2019			2018
(in thousands)
Beginning Balance	$	686		$	648
Purchases and adjustments	131			68
Transfers/disbursements	(29		)	(41		)
Investment income	15			11
Ending Balance	$	803		$	686