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Fair Value Measurements | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements Fair value of financial instruments The carrying amounts of financial instruments, including cash, cash equivalents and restricted cash, accounts receivable, accounts payable and accrued expenses, approximate fair value due to the short maturity of these instruments. The carrying amounts of the Cabot Receivable and debt obligations approximate fair value based on credit terms and market interest rates currently available for similar 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, 2021 |  | As of December 31, 2020
(in thousands) |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Financial Instruments: |  |  |  |  |  |  |  |
Highview Investment |  | $ | 552 |  |  | $ | 552 |  |  | $ | 552 |  |  | $ | 552 |
Highview Obligation |  | $ | 226 |  |  | $ | 226 |  |  | $ | 228 |  |  | $ | 228 |
Concentration of credit risk The Company's financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company holds cash and cash equivalents at three financial institutions as of September 30, 2021. If an institution was unable to perform its obligations, the Company would be at risk regarding the amount of cash and investments in excess of the Federal Deposit Insurance Corporation limits (currently $250 thousand) that would be returned to the Company. Assets and Liabilities Measured at Fair Value on a Recurring Basis As of September 30, 2021 and December 31, 2020, the Company had no financial instruments carried and measured at fair value on a recurring basis. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis As disclosed in Note 14, the Company accounts for the Highview Investment as an investment recorded at cost, less impairment, plus or minus observable changes in price for identical or similar investments of the same issuer. Fair value measurements, if any, represent either Level 2 or Level 3 measurements.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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