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Fair Value Measurements | 3 Months Ended
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Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Financial Instruments Investments Our retained investment in CSI Compressco and our investment in Standard Lithium are recorded based on the quoted market stock price in active markets (a Level 1 fair value measurement). The stock component of consideration received for our arrangement with Standard Lithium is initially recorded as unearned income based on the quoted market price at the time the stock is received, then recognized in income over the contract term. The unearned income associated with the stock component of this agreement is not significant as of March 31, 2021 or December 31, 2020. Changes in the value of stock are recorded in other income (expense) in our consolidated statements of operations Warrants The Warrants are valued using a Black Scholes option valuation model that includes implied volatility of the trading price (a Level 3 fair value measurement). Recurring and nonrecurring fair value measurements by valuation hierarchy as of March 31, 2021 and December 31, 2020, are as follows:
|  |  |  | Fair Value Measurements Using
|  | Total as of |  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
Description |  | March 31, 2021 |  | (Level 1) |  | (Level 2) |  | (Level 3)
|  | (In Thousands)
Investment in CSI Compressco |  | $ | 9,533 |  |  | $ | 9,533 |  |  | $ | — |  |  | $ | — |
Investment in Standard Lithium |  | 3,787 |  |  | 3,787 |  |  | — |  |  | — |
Warrants liability |  | (521) |  |  | — |  |  | — |  |  | (521) |
Net asset |  | $ | 12,799 |  |  |  |  |  |  |
|  |  |  | Fair Value Measurements Using
|  | Total as of |  | Quoted Prices in Active Markets for Identical Assets or Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
Description |  | December 31, 2020 |  | (Level 1) |  | (Level 2) |  | (Level 3)
|  | (In Thousands)
Investment in Standard Lithium |  | $2,675 |  | $ | 2,675 |  |  | — |  |  | $ | — |
Warrants liability |  | (198) |  |  | — |  |  | — |  |  | (198) |
Net asset |  | $ | 2,477 |  |  |  |  |  |  |
The fair values of cash, restricted cash, accounts receivable, accounts payable, accrued liabilities, short-term borrowings and long-term debt pursuant to TETRA’s ABL Credit Agreement and term credit agreement approximate their carrying amounts. See Note 7 - “Long-Term Debt and Other Borrowings” for further discussion.

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- References No definition available. + Details
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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