Quarterly report pursuant to Section 13 or 15(d)

Investments and Fair Value Measurements (Tables)

v3.8.0.1
Investments and Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Category of Financial Instruments Not Held at Fair Value

At September 30, 2017 and December 31, 2016, financial instruments that are not held at fair value are categorized in the table below:

 

  

September 30, 2017

 

  

December 31, 2016

 

  

 

 

 

  

Carrying
Amount

 

  

Fair
Value

 

  

Carrying
Amount

 

  

Fair
Value

 

  

Fair Value
Hierarchy

 

Financial Assets:

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Cash

  

$

39,558

 

 

$

39,558

  

  

$

37,517

  

  

$

37,517

  

  

 

 

 

Investments

 

$

13

 

 

$

13

 

 

$

335

 

 

$

335

 

 

 

N/A

(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Notes Payable

  

$

731

  

  

$

731

  

  

$

2,486

  

  

$

2,486

  

  

 

Level 2

(2)

 

(1)

Investments consist of the Company’s equity method investments in affiliated investment funds which have been established and managed by the Company and its affiliates.  Fair value of investments is based on the net asset value of the affiliated investment funds which is a practical expedient for fair value, which is not included in the fair value hierarchy under GAAP.

(2)

The carrying value of notes payable and borrowings under the revolving credit agreement approximates fair value, which is determined based on interest rates currently available to the Company for similar debt.