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Impairment Charges (Tables)
3 Months Ended
Mar. 31, 2021
Asset Impairment Charges [Abstract]  
Impairment Charges Measured at Fair Value on Non-Recurring Basis

The following table presents information about the Company’s impairment charges on financial assets that were measured on a fair value basis for the three months ended March 31, 2021.  The table also indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions):

 

 

Fair Value Measurements

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

Total

Impairment

Charges

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-lived assets held and used

 

$

 

 

$

 

 

$

10.0

 

 

$

10.0

 

 

$

7.3

 

Summary of Significant Unobservable Inputs

The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value (in millions):

 

 

Quantitative Information about Level 3 Fair Value Measurements

 

 

Fair Value at

 

 

Valuation

 

 

 

 

 

Weighted

Description

 

March 31, 2021

 

 

Technique

 

Unobservable Inputs

 

Range

 

Average

Impairment of consolidated assets

 

$

10.0

 

 

Indicative Bid(A)

 

Indicative Bid(A)

 

N/A

 

N/A

(A)

Fair value measurement based upon an indicative bid and developed by third-party sources (including offers and comparable sales values), subject to the Company’s corroboration for reasonableness.  The Company does not have access to certain unobservable inputs used by third parties to determine these estimated fair values.