Financial Instruments and Fair Value Measurements

9 Months Ended

Sep. 30, 2016

Financial Instruments and Fair Value Measurements

Note 15 – Financial instruments and fair value measurements:

See Note 4 for information on how we determine fair value of our marketable securities.

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure at December 31, 2015 and September 30, 2016:

	December 31, 2015				September 30, 2016
	Carrying		Fair		Carrying		Fair
	amount		value		amount		value
	(In thousands)
Cash, cash equivalents and restricted cash	$	100,981	$	100,981	$	105,611	$	105,611
Note receivable from affiliate		—		—		10,700		10,700
Noncontrolling interest in CompX common stock		15,301		18,878		16,060		19,269

The fair value of our noncontrolling interest in CompX stockholders’ equity is based upon its quoted market price at each balance sheet date, which represents a Level 1 input. The fair value of our variable-rate promissory note receivable from affiliate is deemed to approximate book value using Level 2 inputs. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value.