| Schedule of recurring fair value measurements |
The
following table summarizes recurring fair value measurements by level at September 30, 2019 (in thousands):
| |
|
Fair
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments(1) |
|
$ |
2,790 |
|
|
$ |
2,790 |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
$ |
2,790 |
|
|
$ |
2,790 |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments(1) |
|
$ |
(3,619 |
) |
|
$ |
(3,619 |
) |
|
$ |
— |
|
|
$ |
— |
|
| |
|
$ |
(3,619 |
) |
|
$ |
(3,619 |
) |
|
$ |
— |
|
|
$ |
— |
|
The
following table summarizes recurring fair value measurements by level at December 31, 2018 (in thousands):
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit
Plan |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage |
|
| |
|
Fair Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
|
Allocation |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments(1) |
|
$ |
1,765 |
|
|
$ |
1,765 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Defined
benefit plan assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (pooled
separate accounts): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Large
U.S. Equity(2) |
|
|
3,621 |
|
|
|
— |
|
|
|
3,621 |
|
|
|
— |
|
|
|
27 |
% |
| Small/Mid
U.S. Equity(3) |
|
|
1,844 |
|
|
|
— |
|
|
|
1,844 |
|
|
|
— |
|
|
|
14 |
% |
| International Equity(4) |
|
|
2,106 |
|
|
|
— |
|
|
|
2,106 |
|
|
|
— |
|
|
|
16 |
% |
| Fixed
Income(5) |
|
|
5,686 |
|
|
|
— |
|
|
|
5,686 |
|
|
|
— |
|
|
|
43 |
% |
| |
|
$ |
15,022 |
|
|
$ |
1,765 |
|
|
$ |
13,257 |
|
|
$ |
— |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments |
|
$ |
(6,309 |
) |
|
$ |
(6,309 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
| |
(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. |
|