Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

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 March 31, 2020 and December 31, 2019:

			Fair Value Measurements Using:
As of March 31, 2020	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	$	23	$	23	$	—	$	—
Investments—guaranteed income fund	835		—		—		835
Investments—mutual funds and other	6,359		6,359		—		—
Total investments	7,217		6,382		—		835
Derivative assets	151		—		151		—
Total assets	$	7,368	$	6,382	$	151	$	835
Liabilities:
Derivative liabilities	$	1,986	$	—	$	1,986	$	—

			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	$	—

Summary of Changes in Fair Value of Investments

The following table sets forth the summary of the changes in the fair value of Level 3 investments for the three months ended March 31, 2020 and 2019:

     

	Three Months Ended   March 31,
	2020			2019
(in thousands)
Beginning Balance	$	803		$	686
Purchases and adjustments	9			6
Transfers	57			—
Distribution	(38		)	—
Investment income	4			3
Ending Balance	$	835		$	695