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FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 30, 2023
FAIR VALUE MEASUREMENTS
8. FAIR VALUE MEASUREMENTS
The following tables present our assets and liabilities carried at fair value that are measured on a recurring basis:
 

 
  
 
 
  
Total
 
  
Fair Value Measurements
at September 30, 2023 Using
 
  
Balance Sheet Location
 
  
Level 1
 
  
Level 2
 
  
Level 3
 
Assets:
   
 
     
 
                                 
Derivative financial instruments
   
 
 Other current assets   
 
$
9
 
   
 
— 
 
   
$
9
 
   
 
— 
 
Equity securities
   
 
 Other assets   
 
$
773
 
   
$
773
 
   
 
— 
 
   
 
— 
 
Private equities
   
 
 Other assets   
 
$
1,500
 
   
 
— 
 
   
 
— 
 
   
$
1,500
 
       
    
 
     
 
 Total      Fair Value Measurements
at December 31, 2022 Using		  
  
 
Balance Sheet Location
    Level 1      Level 2      Level 3  
Assets:
   
 
     
 
                                 
Equity securities
   
 
 Other assets   
 
 $ 678      $ 678        —         —   
Private equities
   
 
 Other assets   
 
 $ 1,000        —         —       $ 1,000  
The following is a description of the valuation techniques used for these assets and liabilities, as well as the level of input used to measure fair value:
Derivative financial instruments
– these derivatives are foreign currency forward and option contracts. See Note 7. Fair value is based on observable market inputs, such as forward rates in active markets; therefore, we classify these derivatives within Level 2 of the valuation hierarchy.
Equity securities
– these investments are exchange-traded equity securities. Fair values for these investments are based on closing stock prices from active markets and are therefore classified within Level 1 of the fair value hierarchy.
Private equities
– other investments in which fair value inputs are unobservable and are therefore classified within Level 3 of the fair value hierarchy.