(11)	FAIR VALUE MEASUREMENTS

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The company’s supplemental 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 June 30, 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
Cash and cash equivalents	$	45		—		—		—		45
Total fair value of plan assets	$	45		—		—		—		45

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 June 30, 2018 (Successor):

					Significant		Significant
			Quoted prices in		observable		unobservable
			active markets		inputs		inputs
(In thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Cash equivalents	$	423,131		423,131		—		—
Total fair value of assets	$	423,131		423,131		—		—

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 (14).