DISCLOSURES ABOUT FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2018

Assets and liabilities measured at fair value on a recurring basis

The following tables set forth the Company’s assets and liabilities that were measured at fair value, on a recurring basis, by level within the fair value hierarchy (at December 31, 2018 there were no assets or liabilities measured at fair value). There were no significant transfers between Level 1 and Level 2 during the year ended December 31, 2017. The Company’s policy is to recognize transfers between levels at the end of the reporting period.

At December 31, 2017 (in thousands):



	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2017
Assets
Available-for-sale equity securities⁽¹⁾	$	975	$	244			$	1,219
Available-for-sale debt securities⁽¹⁾	$	683					$	683
Total	$	1,658	$	244	$	—	$	1,902

⁽¹⁾Where there are quoted market prices that are readily available in an active market, securities are classified as Level 1 of the valuation hierarchy. Level 1 available-for-sale investments are valued using quoted market prices multiplied by the number of shares owned and debt securities are valued using a market quote in an active market. All Level 2 available-for-sale securities are one class because they all contain similar risks and are valued using market prices and include securities where the markets are not active, that is where there are few transactions, or the prices are not current or the prices vary considerably over time. Inputs include directly or indirectly observable inputs such as quoted prices. Level 3 available-for-sale securities would include securities where valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Non-financial assets measured at fair value on a non-recurring basis

The following table sets forth the Company’s non-financial assets that were measured at fair value, on a non-recurring basis, by level within the fair value hierarchy during the year ended December 31, 2018 (in thousands):



Asset Description	Quoted Prices In Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)		Total Loss
Investment in unconsolidated affiliate ⁽¹⁾			$	—	$	1,312

⁽¹⁾The Company recorded an impairment loss of $1.3 million to write down the value of its investment in Spigit to fair value, which was zero. The fair value approach relied primarily on Level 3 unobservable inputs including potential offers to purchase the entity. The inputs were based upon assumptions believed to be reasonable, but which by their nature are uncertain and unpredictable. Spigit was subsequently merged with another entity as described in note 4,“Investments.”