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FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2023
FAIR VALUE MEASUREMENTS
17. 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 December 31, 2023 Using
 
  
Balance Sheet Location
  
Level 1
 
  
Level 2
 
  
Level 3
 
Assets:
  
  
  
  
  
Derivative financial instruments
    Other current assets   
$
5
 
   
 
— 
 
   
$
5
 
   
 
— 
 
Equity securities
    Other assets   
$
1,044
 
   
$
1,044
 
      —      
 
— 
 
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 16. 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.