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)
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Category of Financial Instruments Not Held at Fair Value

At March 31, 2018 and December 31, 2017, financial instruments that are not held at fair value are categorized in the table below:

 

  

March 31, 2018

 

  

December 31, 2017

 

  

 

 

 

  

Carrying
Amount

 

  

Fair
Value

 

  

Carrying
Amount

 

  

Fair
Value

 

  

Fair Value
Hierarchy

 

Financial Assets:

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Cash and cash equivalents

  

$

35,394

 

 

$

35,394

  

  

$

53,822

  

  

$

53,822

  

  

 

Level 1

(1) 

Investments

 

$

626

 

 

$

626

 

 

$

626

 

 

$

626

 

 

 

N/A

(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Notes Payable

  

$

749

  

  

$

749

  

  

$

740

  

  

$

740

  

  

 

Level 2

(3)

 

(1)

Includes $17,000 and $16,500 of cash equivalents at March 31, 2018 and December 31, 2017, respectively, that fall under Level 1 in the fair value hierarchy.

(2)

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.

(3)

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.