8. Fair Value Accounting

The following table sets forth the Company’s assets measured at fair value by level within the fair value hierarchy. As required by accounting guidance, assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.


	Fair value at September 30, 2015
	Total		Level 1		Level 3
Assets:
Short-term investments	$	11,880	$	11,880	$	—
Marketable securities		59		59		—
Other investments (Midas Gold Shares)		1,717		1,717		—
Mill equipment, held for sale		6,500		—		6,500


	Fair value at December 31, 2014
	Total		Level 1		Level 3
Assets:
Marketable securities	$	137	$	137	$	—
Other investments (Midas Gold Shares)		6,163		6,163		—
Mill equipment, held for sale		6,500		—		6,500

Our short-term investments (as defined below), marketable securities and investment in Midas Gold Shares are classified as Level 1 of the fair value hierarchy as they are valued at quoted market prices in an active market. Marketable securities are included in other current assets on the Consolidated Balance Sheets for each period presented.

Short-term investments consist of government securities with original maturity dates greater than ninety days and less than one year. Short-term investments are recorded at amortized cost and are classified as debt securities held-to-maturity as the Company has the intention and ability to hold these instruments until their original maturity date at the time of purchase.

The mill equipment is classified as Level 3 of the fair value hierarchy as its value is based on a third party assessment of the projected sale value less costs to sell giving full consideration to current market conditions and an orderly sale process. The mill equipment is categorized as assets held for sale on the Condensed Consolidated Balance Sheets.

At September 30, 2015, the assets classified within Level 3 of the fair value hierarchy represent 32% of the total assets measured at fair value. There have been no transfers between levels in 2015 nor have there been any changes in valuation techniques.