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Fair Value Measurement of Financial Instruments
9 Months Ended
Sep. 30, 2019
Fair Value Measurement of Financial Instruments  
Fair Value Measurement of Financial Instruments

9.    Fair Value Measurement of Financial Instruments

The Company’s assets and liabilities measured at fair value on a nonrecurring basis include cash, accounts receivable, sold receivables, accounts payable, and the convertible notes. The Company reviews the carrying amounts of such assets when events indicate that their carrying amounts may not be recoverable. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to be Level 3 inputs. There were no impairments of long-lived assets during the three and nine months ended September 30, 2019 and 2018.

The carrying value of the 2024 Convertible Notes and the Modified Convertible Notes at September 30, 2019 was $40.0 million which approximates their fair value at September 30, 2019. The Company estimates the fair value of the 2024 Convertible Notes and the Modified Convertible Notes using commonly accepted valuation methodologies and unobservable inputs based on the low volume of similar market activity (Level 3). The Company carries the 2024 Convertible Notes and the Modified Convertible Notes at face value less unamortized debt discount and issuance costs on its condensed consolidated balance sheets. For further information on the 2024 Convertible Notes and the Modified Convertible Notes, see “Note 8 – Debt.”