Fair-Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Fair Value of Financial Assets and Liabilities

The following table presents the fair-value hierarchy for our Level 1 and Level 2 financial and non-financial assets and liabilities, which are measured at fair value on a recurring basis:

	March 31, 2020					December 31, 2019
	Quoted prices in active markets		Significant other observable inputs			Quoted prices in active markets		Significant other observable inputs
(in thousands)	(Level 1)		(Level 2)			(Level 1)		(Level 2)
Fair Value
Assets:
Cash equivalents	$	13,039	$	-		$	16,375	$	-
Other Assets:
Common stock of unaffiliated foreign public company (a)		765		-			839		-
Interest rate swaps
Liabilities:
Other noncurrent liabilities:
Interest rate swaps		-		(15,761	)^b		-		(5,518	)^c

(a)	Original cost basis $0.5 million.
(b)	Net of $3.5 million receivable floating leg and $19.2 million liability fixed leg.
(c)	Net of $15.2 million receivable floating leg and $20.7 million liability fixed leg.

Schedule of (Losses)/Gains on Changes in Fair Value of Derivative Instruments

Gains/(losses) related to changes in fair value of derivative instruments that were recognized in Other (income)/expense, net in the Consolidated Statements of Income were as follows:

	Three months ended March 31,
(in thousands)	2020	2019
Derivatives not designated as hedging instruments
Foreign currency options gains/(losses)	$(64)	-

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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