Financial Instruments

12 Months Ended

Dec. 31, 2016

Note 18 - Financial instruments:

The following table summarizes the valuation of our marketable securities on a fair value basis as of December 31, 2015 and 2016:

	Fair value measurements
	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
December 31, 2015
Marketable securities	$	19,260	$	19,260	$	-	$	-

December 31, 2016
Marketable securities	$	49,731	$	49,731	$	-	$	-

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

	December 31, 2015				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Cash, cash equivalents and restricted cash	$	100,981	$	100,981	$	98,242	$	98,242
Noncontrolling interest in CompX common stock		15,301		18,878		16,350		26,790

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 Level 1 inputs. Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value.