Fair Value Accounting

12 Months Ended

Dec. 31, 2018

Fair Value Accounting

Fair Value Accounting

9.  Fair Value Accounting

The following table sets forth the Company’s assets measured at fair value by level within the fair value hierarchy. As required by accounting guidance, assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. 

	Fair value at December 31, 2018
	Total		Level 1		Level 3
Marketable securities	$	—	$	—	$	—
Other investments (Midas Gold Shares)		5,462		5,462		—
Used mill equipment (non-recurring)		5,500		—		5,500

	Fair value at December 31, 2017
	Total		Level 1		Level 3
Marketable securities	$	90	$	90	$	—
Other investments (Midas Gold Shares)		3,746		3,746		—
Used mill equipment (non-recurring)		6,500		—		6,500

Our marketable securities and investment in Midas Gold Shares are classified as Level 1 of the fair value hierarchy as they are valued at quoted market prices in an active market.  Marketable securities are included in other current assets on the Consolidated Balance Sheets for each period presented.

The mill equipment is classified as Level 3 of the fair value hierarchy as its value at December 31, 2018 and 2017 was based on an independent third-party valuation. This valuation was based on unobservable inputs obtained by our valuation specialists and reviewed by the Company. The mill equipment is included in plant and equipment on the Consolidated Balance Sheets for each period presented. 

There were no transfers between levels nor were there any changes in valuation methods in 2017.