As of December 31, 2020, the fair values of our financial assets and financial liabilities are categorized as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Derivatives (1)	$	—	$	5,821	$	—	$	5,821
Total assets at fair value	$	—	$	5,821	$	—	$	5,821

Liabilities:
Derivatives (1)	$	—	$	3	$	—	$	3
Total liabilities at fair value	$	—	$	3	$	—	$	3

As of June 30, 2020, the fair values of our financial assets and financial liabilities are categorized as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Derivatives (1)	$	—	$	36	$	—	$	36
Total assets at fair value	$	—	$	36	$	—	$	36

Liabilities:
Derivatives (1)	$	—	$	2,139	$	—	$	2,139
Total liabilities at fair value	$	—	$	2,139	$	—	$	2,139

(1) Currency and interest rate derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.