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FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables) | 9 Months Ended
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Sep. 30, 2024
FAIR VALUE MEASUREMENTS AND INVESTMENTS |
Schedule of assets and liabilities of the entity measured at fair value on a recurring basis | Assets and liabilities of the Company measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are summarized as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024
​ | ​ | Significant Other
​ | ​ | Quoted Prices in | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Active Markets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
Description | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
Short term investments | ​ | $ | 310 | ​ | $ | — | ​ | $ | — | ​ | $ | 310
Employee benefit plan investments | ​ | ​ | 2,800 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,800
Interest rate swap | ​ | ​ | — | ​ | ​ | (1,962) | ​ | ​ | — | ​ | ​ | (1,962)
Alaska Communications redeemable common units | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Alloy redeemable common units (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (10,834) | ​ | ​ | (10,834)
Warrants on Alaska Communications redeemable common units | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (249) | ​ | ​ | (249)
Total assets and liabilities measured at fair value | ​ | $ | 3,110 | ​ | $ | (1,962) | ​ | $ | (11,083) | ​ | $ | (9,935)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
| ​ | Significant Other
​ | ​ | Quoted Prices in | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Active Markets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
Description | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
Short term investments | ​ | $ | 300 | ​ | $ | — | ​ | $ | — | ​ | $ | 300
Other investments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,197 | ​ | ​ | 1,197
Employee benefit plan investments | ​ | ​ | 3,014 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,014
Interest rate swap | ​ | ​ | — | ​ | ​ | (1,750) | ​ | ​ | — | ​ | ​ | (1,750)
Alaska Communications redeemable common units | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (11,063) | ​ | ​ | (11,063)
Alloy redeemable common units (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (14,760) | ​ | ​ | (14,760)
Warrants on Alaska Communications redeemable common units | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (249) | ​ | ​ | (249)
Total assets and liabilities measured at fair value | ​ | $ | 3,314 | ​ | $ | (1,750) | ​ | $ | (24,875) | ​ | $ | (23,311)
Schedule of investments | A roll forward of the investments is below (in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Investments without a readily determinable fair value | ​ | Fair value investments | ​ | Equity method investments | ​ | Total
Balance, December 31, 2023 | ​ | $ | 41,710 | ​ | $ | 1,197 | ​ | $ | — | ​ | $ | 42,907
Income recognized | ​ | ​ | 47 | ​ | ​ | 195 | ​ | ​ | — | ​ | ​ | 242
Distributions | ​ | ​ | — | ​ | ​ | (602) | ​ | ​ | — | ​ | ​ | (602)
Sale of investment | ​ | ​ | — | ​ | ​ | (790) | ​ | ​ | — | ​ | ​ | (790)
Balance, September 30, 2024 | ​ | $ | 41,757 | ​ | $ | — | ​ | $ | — | ​ | $ | 41,757
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance, December 31, 2022 | ​ | $ | 22,590 | ​ | $ | 1,616 | ​ | $ | 13,963 | ​ | $ | 38,169
Income recognized | ​ | ​ | 2,430 | ​ | ​ | 229 | ​ | ​ | 93 | ​ | ​ | 2,752
Contributions / (distributions) | ​ | ​ | 425 | ​ | ​ | (567) | ​ | ​ | 630 | ​ | ​ | 488
Foreign currency gain | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 229 | ​ | ​ | 229
Reclassification of foreign currency losses | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,349 | ​ | ​ | 1,349
Transfers | ​ | ​ | 16,264 | ​ | ​ | — | ​ | ​ | (16,264) | ​ | ​ | —
Balance, September 30, 2023 | ​ | $ | 41,709 | ​ | $ | 1,278 | ​ | $ | — | ​ | $ | 42,987

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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