Fair Value of Financial Instruments Level 3 measurement and valuation techniques (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following table provides a reconciliation of the fair value of recurring Level 3 fair value measurements for the three and nine months ended September 30, 2018 and September 30, 2017:

(in thousands)	Three months ended September 30,						Nine months ended September 30,
	2018				2017		2018			2017
Assets:
Limited liability investments, at fair value:
Beginning balance	$	2,083			$	927	$	1,397		$	939
Purchases	307				560		1,285			664
Distributions received	(34		)		—		(345		)	(86		)
Change in fair value of limited liability investments, at fair value included in net loss	(26		)		16		(7		)	(14		)
Ending balance	2,330				1,503		2,330			1,503
Real estate investments:
Beginning balance	10,662				10,662		10,662			10,662
Change in fair value of real estate investments included in net loss	—				—		—			—
Ending balance	10,662			—	10,662		10,662			10,662
Total	$	12,992			$	12,165	$	12,992		$	12,165

The following table summarizes the valuation techniques and significant unobservable inputs utilized in determining fair values for the Company's investments that are categorized as Level 3 at September 30, 2018:

Categories	Fair Value (in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	2,330	Market approach	Valuation multiples	5.0x-7.0x
Real estate investments	$	10,662	Market and income approach	Cap rates	7.5	%

The following table summarizes the valuation techniques and significant unobservable inputs utilized in determining fair values for the Company's investments that are categorized as Level 3 at December 31, 2017:

Categories	Fair Value (in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	1,397	Market approach	Valuation multiples	5.0x-7.0x
Real estate investments	$	10,662	Market and income approach	Cap rates	7.5	%