Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Summary of Recurring Fair Value Measurements by Level

The following table summarizes recurring fair value measurements by level at March 31, 2018 (in thousands): 

 

      Fair Value     Level 1     Level 2     Level 3  
Assets:                                  
   Derivative instruments(1)     $ 2,981     $ 2,981     $ —     $ —  
      $ 2,981     $ 2,981     $ —     $ —  
                                   
Liabilities:                                  
   Derivative instruments(6)     $ (3,094 )   $ (3,094 )   $ —     $ —  
      $ (3,094 )   $ (3,094 )   $ —     $ —  
Schedule of Fair Value of Level 3 Inputs to Warrants

The following table summarizes recurring fair value measurements by level at December 31, 2017 (in thousands):

 

                            Benefit Plan  
                            Percentage  
    Fair Value     Level 1     Level 2     Level 3     Allocation  
Assets:                                        
   Derivative financial instruments(1)   $ 998     $ 998     $ —     $ —          
   Defined benefit plan assets                                        
       (pooled separate accounts):                                        
      Large U.S. Equity(2)     3,748       —       3,748       —       27 %
      Small/Mid U.S. Equity(3)     2,018       —       2,018       —       14 %
      International Equity(4)     2,528       —       2,528       —       18 %
      Fixed Income(5)     5,664       —       5,664       —       41 %
    $ 14,956     $ 998     $ 13,958     $ —          
Liabilities:                                        
Derivative financial instruments(6)   $ (2,307 )   $ (2,307 )   $ —     $ —          

  

 

  (1) Included in derivative instruments in the consolidated balance sheets.

  (2) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  (3) This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  (4) This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  (5) This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

  (6) Included in derivative instruments in the consolidated balance sheets.