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Fair Value Measurements | 9 Months Ended
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Sep. 30, 2015
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements Fair value of financial instruments The carrying amounts of financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, deposits and accrued expenses approximate fair value due to the short maturity of these instruments. Accordingly, these instruments are not presented in the table below. The following table provides the estimated fair values of the remaining financial instruments:
|  | As of September 30, 2015 |  | As of December 31, 2014
(in thousands) |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Financial Instruments: |  |  |  |  |  |  |  |
Investment securities: |  |  |  |  |  |  |  |
Investment securities, restricted, long-term |  | $ | 336 |  |  | $ | 336 |  |  | $ | 336 |  |  | $ | 336 |
Cost method investment |  | $ | 2,776 |  |  | $ | 2,776 |  |  | $ | 2,776 |  |  | $ | 2,776 |
Notes Payable: |  |  |  |  |  |  |  |
Current portion of notes payable, related party |  | $ | 1,668 |  |  | $ | 1,514 |  |  | $ | 1,479 |  |  | $ | 1,439 |
Long-term portion of notes payable, related party |  | $ | 14,022 |  |  | $ | 14,113 |  |  | $ | 14,431 |  |  | $ | 14,356 |
Highview technology license payable |  | $ | — |  |  | $ | — |  |  | $ | 155 |  |  | $ | 155 |
Highview technology license payable, long-term |  | $ | 1,334 |  |  | $ | 1,334 |  |  | $ | 1,389 |  |  | $ | 1,389 |
Stock appreciation rights, liability-classified equity award |  | $ | 536 |  |  | $ | 536 |  |  | $ | — |  |  | $ | — |
Concentration of credit risk The Company's certificates of deposit investment securities, and virtually all of the Company’s restricted and unrestricted cash accounts, are at two financial institutions. If those institutions were to be unable to perform their obligations, the Company would be at risk regarding the amount of cash and investment in excess of the federal deposit insurance corporation limits ($250 thousand) that would be returned to the Company. Assets and Liabilities Measured at Fair Value on a Recurring Basis The estimated fair values of investment securities are described below. Refer to Note 5 of these Consolidated Financial Statements for additional information regarding the Company’s investment securities. Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The Company uses the hierarchy prescribed in the accounting guidance for fair value measurements, based upon the available inputs to the valuation and the degree to which they are observable or not observable in the market. The three levels in the hierarchy are as follows: •Level 1 Inputs - Quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date. •Level 2 Inputs - Inputs other than quoted prices within Level 1 that are observable either directly or indirectly, including but not limited to quoted prices in markets that are not active, quoted prices in active markets for similar assets or liabilities and observable inputs other than quoted prices such as interest rates or yield curves. •Level 3 Inputs - Unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Financial instruments carried and measured at fair value on a recurring basis are presented in the table below according to the fair value hierarchy described above:
|  | As of September 30, 2015
|  | Fair Value Measurement Using
(in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Assets at Fair Value
Assets: |  |  |  |  |  |  |  |
Investment securities, restricted, long-term |  | $ | — |  |  | $ | 336 |  |  | $ | — |  |  | $ | 336 |
Total assets at fair value |  | $ | — |  |  | $ | 336 |  |  | $ | — |  |  | $ | 336 |
Liabilities: |  |  |  |  |  |  |  |
Stock appreciation rights, liability-classified equity award |  | $ | — |  |  | $ | 536 |  |  | $ | — |  |  | $ | 536 |
Total liabilities at fair value |  | $ | — |  |  | $ | 536 |  |  | $ | — |  |  | $ | 536 |
|  | As of December 31, 2014
|  | Fair Value Measurement Using
(in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Assets at Fair Value
Assets: |  |  |  |  |  |  |  |
Investment securities, restricted, long-term |  | $ | — |  |  | $ | 336 |  |  | $ | — |  |  | $ | 336 |
Total assets at fair value |  | $ | — |  |  | $ | 336 |  |  | $ | — |  |  | $ | 336 |
The estimated fair value of investments securities consisting entirely of certificates of deposits was estimated to be equal to the deposit value of the investment due to the relative short term nature of the instrument. As discussed in Note 3, during the first quarter of 2015, contingent consideration was recorded related to the acquisition of ClearView. The transaction called for a series of contingent payments based upon the achievement of sales and sales targets. As part of the purchase price, the Company recorded a $0.5 million liability for the contingent consideration due to the sellers based upon the net present value of the Company's estimate of the future payments. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date. As part of the broader restructuring plan discussed in Note 3, the Company recognized a non-cash gain related to the reversal of the contingent consideration liability as the achievement of sales and sales targets would not be met. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured on a non-recurring basis are presented in the following tables:
|  | As of September 30, 2015 |  |
|  | Fair Value Measurement Using |  |
(in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |  | Total Losses
Assets: |  |  |  |  |  |  |  |  |  |
Impaired note receivable |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,000 | )
Total assets at fair value |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,000 | )
The Company recorded impairment charges related to a Note Receivable. The fair value of the impaired note receivable, determined to be fully impaired, was estimated using a discounted cash flow analysis. The fair value measurements represent a Level 3 measurement.
|  | As of December 31, 2014 |  |
|  | Fair Value Measurement Using |  |
(in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |  | Total Losses
Assets: |  |  |  |  |  |  |  |  |  |
Property and equipment |  | $ | — |  |  | $ | — |  |  | $ | 424 |  |  | $ | 424 |  |  | $ | (355 | )
Impaired note receivable |  | — |  |  | — |  |  | — |  |  | — |  |  | (500 | )
Total assets at fair value |  | $ | — |  |  | $ | — |  |  | $ | 424 |  |  | $ | 424 |  |  | $ | (855 | )
During the fourth quarter of 2014, the Company recorded impairments on property and equipment, with a total carrying value of $0.8 million, respectively, as a result of ongoing negative cash flows related to assets specifically related to the Company's Dry Sorbent Injection ("DSI") system fabrication facility. The fair value of the impaired property and equipment as of December 31, 2014 was estimated using an appraisal obtained from a third party. The fair value measurements represent a Level 3 measurement as it is based on significant inputs not observable in the market. The fair value of the impaired goodwill, determined to be fully impaired, was estimated using a discounted cash flow analysis. The fair value measurement represents a Level 3 measurement. During the fourth quarter of 2015, the Company recorded impairments totaling approximately $0.3 million to reduce the carrying value of certain property and equipment that the Company intended to sell to its estimated sales value, less estimated costs to sell. The property and equipment were subsequently sold at auction. Proceeds from the sale of the impaired assets totaled approximately $0.6 million. No gain or loss was recognized on the sale of the property and equipment. Also during the fourth quarter of 2015, the Company sold certain property and equipment having a net book value of approximately $0.1 million. Proceeds from the sale totaled approximately $0.3 million, which resulted in the recognition of a gain on the sale of approximately $0.2 million.

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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 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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