Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

9. Fair Value Measurements

U.S. GAAP establishes a fair value hierarchy that has three levels based on the reliability of the inputs used to determine the fair value.  These levels include: Level 1, defined as inputs such as unadjusted quoted prices in active markets for identical assets or liabilities; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for use when little or no market data exists, therefore requiring an entity to develop its own assumptions.

The Company’s impaired long-lived assets primarily related to property, plant and equipment and Investment in PicOnyx are included within the Level 3 fair value hierarchy.  The fair value measurements used in those impairment evaluations were based on real estate and equipment appraisals using unobservable inputs and certain other market data.  For additional information, see Note 5.  The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value on a non-recurring basis:

	Fair value as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Impaired long-lived assets	$	—	$	—	$	34,421	$	34,421
Investment in PicOnyx		—		—		128	$	128
Total fair value	$	—	$	—	$	34,549	$	34,549