Financial Instruments

9 Months Ended

Sep. 30, 2018

Investments All Other Investments [Abstract]

Financial Instruments

13. Financial Instruments

Our financial instruments consist primarily of investments in cash and cash equivalents, receivables and certain other assets, foreign debt and accounts payable, which approximate fair value at September 30, 2018 and December 31, 2017, due to their short-term nature or variable, market-driven interest rates.

The fair value of the debt issued under the Credit Facility was $81.1 million and $114.9 million at September 30, 2018 and December 31, 2017, respectively.  The fair value of the note payable was $3.8 million and $5.3 million at September 30, 2018 and December 31, 2017, respectively.

In accordance with the terms of the Credit Facility, the Company entered into an interest rate swap on December 30, 2015 to hedge against interest rate exposure related to a portion of the outstanding debt indexed to LIBOR market rates. See Note 8 for further information regarding the interest rate swap.

At September 30, 2018 and December 31, 2017, the Company had cash and cash equivalents of $30.7 million and $29.9 million, respectively, of which $23.3 million and $19.7 million, respectively, was held outside of the United States, principally in the Netherlands, United Kingdom, China, and Canada.