Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Items Measured at Fair Value

The following table categorizes items measured at fair value at March 31, 2018:

			Fair Value Measurement at Reporting Date Using
			Quoted Prices		Significant Other		Significant
			in Active Markets		Observable		Unobservable
			for Identical Assets		Inputs		Inputs
March 31, 2018			(Level 1)		(Level 2)		(Level 3)
(Dollars in thousands)
Assets
Certificates of deposit	$	750		—		750		—
Cash surrender value		8,136		—		8,136		—
Derivative contracts		12,433		—		12,433		—
Total		21,319		—		21,319		—
Liabilities
Derivative contracts		7,937		—		7,937		—
Embedded derivative liability		3,787		—		—		3,787
Total	$	11,724		—		7,937		3,787

The following table categorizes items measured at fair value at December 31, 2017:

			Fair Value Measurement at Reporting Date Using
			Quoted Prices		Significant Other		Significant
			in Active Markets		Observable		Unobservable
			for Identical Assets		Inputs		Inputs
December 31, 2017			(Level 1)		(Level 2)		(Level 3)
(Dollars in thousands)
Assets
Certificates of deposit	$	750	$	—	$	750	$	—
Cash surrender value		8,040		—		8,040		—
Derivative contracts		6,342		—		6,342		—
Total		15,132		—		15,132		—
Liabilities
Derivative contracts		16,106		—		16,106		—
Embedded derivative liability		4,685		—		—		4,685
Total	$	20,791	$	—	$	16,106	$	4,685

Summary of Changes in Level 3 Fair Value Measurement of Embedded Derivative Liability

The following table summarizes the changes during the first quarter of 2018 in level 3 fair value measurement of the embedded derivative liability relating to the redeemable preferred shares issued in connection with the acquisition of Uniwheels:

Three Months Ended March 31,	2018
(Dollars in thousands)
Change in fair value:
Beginning fair value – December 31, 2017	$	4,685
Change in fair value of redeemable preferred stock embedded derivative liability		(898	)
Ending fair value at March 31, 2018	$	3,787