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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements
The Company categorizes a financial instrument in the fair value hierarchy based on the lowest level of input that is significant to its fair value measurement.


Smith-Midland Corporation
and Subsidiaries

Notes to Consolidated Financial Statements
(continued)



 
As of December 31, 2016
 
Quoted Market Prices in Active Markets
(Level 1)
Internal Models with Significant Observable
Market Parameters
(Level 2)
Internal Models
with Significant Unobservable
Market Parameters
(Level 3)
Total Fair Value
Reported in
Financial Statements
 
 
 
 
 
Mutual Funds
$
1,050,220

$
—

$
—

$
1,050,220





 
As of December 31, 2015

Quoted Market Prices in Active Markets
(Level 1)
Internal Models with Significant Observable
Market Parameters
(Level 2)
Internal Models
with Significant Unobservable
Market Parameters
(Level 3)
Total Fair Value
Reported in
Financial Statements
 
 
 
 
 
Mutual Funds
$
1,041,790

$
—

$
—

$
1,041,790