Financial Instruments

12 Months Ended

Dec. 31, 2017

Note 18 - Financial instruments:

The following table summarizes the valuation of our marketable securities on a fair value basis as of December 31, 2016 and 2017:

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

December 31, 2017
Marketable securities	$	88,681	$	88,681	$	-	$	-

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure as December 31, 2016 and 2017:

	December 31, 2016				December 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Cash, cash equivalents and restricted cash	$	98,242	$	98,242	$	102,941	$	102,941
Noncontrolling interest in CompX common stock		16,350		26,790		17,756		22,224

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.