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DISCLOSURES ABOUT FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis
The following tables set forth the Company’s assets and liabilities that were measured at fair value, on a recurring basis, by level within the fair value hierarchy. There were no significant transfers between Level 1 and Level 2 during the years ended December 31, 2017 and 2016. The Company’s policy is to recognize transfers between levels at the end of the reporting period.

At December 31, 2017 (in thousands):
 
Quoted Prices In Active
Markets for Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
Balance at December 31, 2017
Assets
 
 
 
 
 
 
 
Available-for-sale equity securities (1)
$
975

 
$
244

 

 
$
1,219

Available-for-sale debt securities (1)
$
683

 


 

 
$
683

Total
$
1,658


$
244

 

 
$
1,902


At December 31, 2016 (in thousands):
 
Quoted Prices In Active
Markets for Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
Balance at December 31, 2016
Assets
 
 
 
 
 
 
 
Available-for-sale equity securities (1)
$
12,545

 
$
8,144

 

 
$
20,689

Available-for-sale debt securities (1)
$
4,382

 


 

 
$
4,382

Total
$
16,927

 
$
8,144

 
 
 
$
25,071


(1) Where there are quoted market prices that are readily available in an active market, securities are classified as Level 1 of the valuation hierarchy. Level 1 available-for-sale investments are valued using quoted market prices multiplied by the number of shares owned and debt securities are valued using a market quote in an active market. All Level 2 available-for-sale securities are one class because they all contain similar risks and are valued using market prices and include securities where the markets are not active, that is where there are few transactions, or the prices are not current or the prices vary considerably over time. Inputs include directly or indirectly observable inputs such as quoted prices. Level 3 available-for-sale securities would include securities where valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
Non-financial assets measured at fair value on a non-recurring basis
The following table sets forth the Company’s non-financial assets that were measured at fair value, on a non-recurring basis, by level within the fair value hierarchy during the year Ended December 31, 2016 (in thousands):
Asset Description
 
Quoted Prices In Active
Markets for Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
Total Loss
Oil and gas wells (1)
 

 

 
$
—

 
$
201

Investment in unconsolidated affiliate (2)
 
 
 
 
 
$
—

 
$
2,170


(1) The Company recorded an impairment loss to write down the value of certain oil and gas wells. The loss was reported in the consolidated statements of operations and comprehensive income or loss within impairment loss on intangible and long-lived assets and was included in the results of operations of the corporate segment.

(2) The Company had a non-recurring fair value measurement on its investment in Synthonics that resulted in an impairment loss discussed in Note 4 “Investments.”