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FAIR VALUE ACCOUNTING (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

September 30, 2023			Level 1						Level 2						Level 3						Total
Cash equivalents(1)			$	—					$	11,995					$	—					$	11,995
Investments accounted for at fair value			26,063						6						—						26,069
Marketable debt securities			—						69,418						—						69,418
Convertible note			—						—						46,610						46,610
Marketable equity securities			1,180						25						—						1,205
			$	27,243					$	81,444					$	46,610					$	155,297

(1)     Cash equivalents are comprised of U.S. Treasury Bills, Government Agency Bonds and mutual funds purchased within three months of their maturity dates.

December 31, 2022			Level 1						Level 2						Level 3						Total
Cash equivalents(1)			$	—					$	30,336					$	—					$	30,336
Investments accounted for at fair value			19,263						66						—						19,329
Marketable debt securities			—						11,125						—						11,125
Marketable equity securities			1,033						34						—						1,067
			$	20,296					$	41,561					$	—					$	61,857

(1)     Cash equivalents are comprised of U.S. Treasury Bills and Government Agency Bonds purchased within three months of their maturity dates.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table is a reconciliation of the beginning and ending balance recorded for the Convertible Note classified as Level 3 in the fair value hierarchy:

Beginning balance, February 14, 2023			$	59,457
Principal redeemed (1)			(20,000)
Realized gain included in other income (loss) (1)			181
Unrealized gain included in other income (loss)			6,972
Ending balance, September 30, 2023			$	46,610

(1)     During the three and nine months ended September 30, 2023, enCore redeemed $20.00 million of the principal amount of the Convertible Note. Unpaid interest for the redeemed principal is $0.39 million.

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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