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FAIR VALUE MEASUREMENTS | 3 Months Ended
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Mar. 31, 2018
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS |
(10) | FAIR VALUE MEASUREMENTS
Assets and Liabilities Measured at Fair Value on a Recurring Basis The company’s plan assets are accounted for at fair value and are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement, with the exception of investments for which fair value is measured using the net asset value (NAV) per share expedient. The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of March 31, 2018 (Successor):
|  |  |  |  |  |  |  |  | Significant |  | Significant |  |
|  |  |  |  |  |  | Quoted prices in |  | observable |  | unobservable |  | Measured at
|  |  |  |  |  |  | active markets |  | inputs |  | inputs |  | Net Asset
(In thousands) |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Value
Equity securities |  | $ | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |
Debt securities |  |  | 3,318 |  |  |  |  | 834 |  |  |  |  | 836 |  |  |  |  | — |  |  |  |  | 1,648 |  |
Cash and cash equivalents |  |  | 5,491 |  |  |  |  | 47 |  |  |  |  | 121 |  |  |  |  | — |  |  |  |  | 5,323 |  |
Total |  | $ | 8,809 |  |  |  |  | 881 |  |  |  |  | 957 |  |  |  |  | — |  |  |  |  | 6,971 |  |
Other pending transactions |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |
Total fair value of plan assets |  | $ | 8,809 |  |  |  |  | 881 |  |  |  |  | 957 |  |  |  |  | — |  |  |  |  | 6,971 |  |
The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of December 31, 2017 (Successor):
|  |  |  |  |  |  |  |  |  |  |  | Significant |  | Significant |  |  |  |  |
|  |  |  |  |  |  | Quoted prices in |  | observable |  | unobservable |  | Measured at
|  |  |  |  |  |  | active markets |  | inputs |  | inputs |  | Net Asset
(In thousands) |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Value
Equity securities |  | $ | 5,295 |  |  |  |  | 5,295 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |
Debt securities |  |  | 3,368 |  |  |  |  | 851 |  |  |  |  | 841 |  |  |  |  | — |  |  |  |  | 1,676 |  |
Cash and cash equivalents |  |  | 246 |  |  |  |  | 27 |  |  |  |  | 170 |  |  |  |  | — |  |  |  |  | 49 |  |
Total |  | $ | 8,909 |  |  |  |  | 6,173 |  |  |  |  | 1,011 |  |  |  |  | — |  |  |  |  | 1,725 |  |
Other pending transactions |  |  | (1 | ) |  |  |  | (1 | ) |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |
Total fair value of plan assets |  | $ | 8,908 |  |  |  |  | 6,172 |  |  |  |  | 1,011 |  |  |  |  | — |  |  |  |  | 1,725 |  |
Other Financial Instruments The company’s primary financial instruments consist of cash, cash equivalents and restricted cash, trade receivables and trade payables with book values that are considered to be representative of their respective fair values. The company periodically utilizes derivative financial instruments to hedge against foreign currency denominated assets and liabilities, currency commitments, or to lock in desired interest rates. These transactions are generally spot or forward currency contracts or interest rate swaps that are entered into with major financial institutions. Derivative financial instruments are intended to reduce the company’s exposure to foreign currency exchange risk and interest rate risk. The company enters into derivative instruments only to the extent considered necessary to address its risk management objectives and does not use derivative contracts for speculative purposes. The derivative instruments are recorded at fair value using quoted prices and quotes obtainable from the counterparties to the derivative instruments. Cash Equivalents. The company’s cash equivalents, which are securities with maturities less than 90 days, are held in deposit accounts with highly rated financial institutions. The carrying value for cash equivalents is considered to be representative of its fair value due to the short duration and conservative nature of the cash equivalent investment portfolio. Spot Derivatives. Spot derivative financial instruments are short-term in nature and generally settle within two business days. The fair value of spot derivatives approximates the carrying value due to the short-term nature of this instrument, and as a result, no gains or losses are recognized. The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2018 (Successor):
|  |  |  |  |  |  |  |  |  | Significant | Significant
|  |  |  |  |  | Quoted prices in | observable | unobservable
|  |  |  |  |  | active markets | inputs | inputs
(In thousands) |  | Total | (Level 1) | (Level 2) | (Level 3)
Cash equivalents |  | $ | 407,302 |  |  |  | 407,302 |  |  |  | — |  |  |  | — |  |
Total fair value of assets |  | $ | 407,302 |  |  |  | 407,302 |  |  |  | — |  |  |  | — |  |
The following table provides the fair value hierarchy for the company’s other financial instruments measured as of December 31, 2017 (Successor):
|  |  |  |  |  |  |  |  |  | Significant | Significant
|  |  |  |  |  | Quoted prices in | observable | unobservable
|  |  |  |  |  | active markets | inputs | inputs
(In thousands) |  | Total | (Level 1) | (Level 2) | (Level 3)
Cash equivalents |  | $ | 399,322 |  |  |  | 399,322 |  |  |  | — |  |  |  | — |  |
Total fair value of assets |  | $ | 399,322 |  |  |  | 399,322 |  |  |  | — |  |  |  | — |  |
For disclosures related to assets and liabilities measured at fair value on a nonrecurring basis refer to Note (13).

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- References No definition available. + Details
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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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