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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Fair Value Adjustments to Comprehensive income (Loss)



	Three Months Ended March 31,
In thousands	2020			2019
Unrealized gain (loss) on equity securities	$	(8,819	)	$	9,185
Realized gain (loss) on equity securities	—			(8		)
Interest rate swap, net	—			(57		)
Fair value adjustments, net	$	(8,819	)	$	9,120

Financial assets and liabilities measured at fair value on recurring basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:



	Fair Value at March 31, 2020
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity securities	$	26,826	$	26,826	$	—	$	—
Other derivative instruments, net	1,023		—		1,023		—
	$	27,849	$	26,826	$	1,023	$	—
Liabilities:
Other derivative instruments, net	$	46	$	—	$	46	$	—



	Fair Value at December 31, 2019
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity and debt securities	$	35,646	$	35,646	$	—	$	—
Other derivative instruments, net	753		—		753		—
	$	36,399	$	35,646	$	753	$	—
Liabilities:
Silvertip contingent consideration	$	25,000	$	—	$	—	$	25,000
Other derivative instruments, net	275		—		275		—
	$	25,275	$	—	$	275	$	25,000

Changes in the fair value of the Company's Level 3 financial liabilities

The following tables present the changes in the fair value of the Company's Level 3 financial assets and liabilities in the three months ended March 31, 2020:



	Three Months Ended March 31,
In thousands	Balance at the beginning of the period		Revaluation		Settlements			Accretion		Balance at the end of the period
Liabilities:
Silvertip contingent consideration	$	25,000	$	—	$	(25,000	)	$	—	$	—

Financial Assets and Liabilities not Measured at Fair Value

The fair value of financial assets and liabilities carried at book value in the financial statements at March 31, 2020 and December 31, 2019 is presented in the following table:



	March 31, 2020
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
2024 Senior Notes⁽¹⁾	$	227,062	$	202,433	$	—	$	202,433	$	—
Revolving Credit Facility⁽²⁾	$	50,000	$	50,000	$	—	$	50,000	$	—

⁽¹⁾Net of unamortized debt issuance costs of $2.9 million.

⁽²⁾Unamortized debt issuance costs of $2.1 million included in Other Non-Current Assets.



	December 31, 2019
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
2024 Senior Notes⁽¹⁾	$	226,885	$	228,585	$	—	$	228,585	$	—
Revolving Credit Facility⁽²⁾	$	—	$	—	$	—	$	—	$	—

⁽¹⁾Net of unamortized debt issuance costs of $3.1 million.

⁽²⁾Unamortized debt issuance costs of $2.3 million included in Other Non-Current Assets.