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Fair Value Measurements | 3 Months Ended
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Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Financial Instruments Investments We retained an interest in CSI Compressco (NASDAQ: CCLP) representing approximately 3.7% of CSI Compressco’s outstanding common units as of March 31, 2022. Our investment in CSI Compressco is recorded based on the quoted market stock price in active markets (a Level 1 fair value measurement). Changes in the value of stock are recorded in other income (expense) in our consolidated statements of operations. In December 2021, we invested in a $5.0 million convertible note issued by CarbonFree. Our investment in CarbonFree is recorded in investments on our consolidated balance sheets based on an internal valuation (a Level 3 fair value measurement). Recurring and nonrecurring fair value measurements by valuation hierarchy as of March 31, 2022 and December 31, 2021, 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, 2022 |  | (Level 1) |  | (Level 2) |  | (Level 3)
|  | (in thousands)
Investment in CSI Compressco |  | $ | 7,333 |  |  | $ | 7,333 |  |  | $ | — |  |  | $ | — |
Investment in CarbonFree |  | 5,000 |  |  | — |  |  | — |  |  | 5,000 |
Investments |  | $ | 12,333 |  |  |  |  |  |  |
|  |  |  | 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, 2021 |  | (Level 1) |  | (Level 2) |  | (Level 3)
|  | (in thousands)
Investment in CSI Compressco |  | $ | 6,233 |  |  | $ | 6,233 |  |  | $ | — |  |  | $ | — |
Investment in CarbonFree |  | $ | 5,000 |  |  | $ | — |  |  | — |  |  | $ | 5,000 |
Investments |  | $ | 11,233 |  |  |  |  |  |  |
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, Swedish Credit Agreement and term credit agreement approximate their carrying amounts. See Note 5 - “Long-Term Debt and Other Borrowings” for further discussion.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008 + Details
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