Fair Value Accounting

12 Months Ended

Dec. 31, 2016

11. 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 December 31, 2016
	Total		Level 1		Level 3
Marketable securities	$	109	$	109	$	—
Other investments (Midas Gold Shares)		4,994		4,994		—
Used mill equipment (non-recurring)		6,500		—		6,500


	Fair value at December 31, 2015
	Total		Level 1		Level 3
Marketable securities	$	61	$	61	$	—
Other investments (Midas Gold Shares)		1,798		1,798		—
Used mill equipment (non-recurring)		6,500		—		6,500

Our 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.

The mill equipment is classified as Level 3 of the fair value hierarchy as its value at December 31, 2016 and 2015 was based on an independent third party valuation. The mill equipment is included in plant and equipment on the Consolidated Balance Sheets for each period presented.

There were no transfers between levels nor were there any changes in valuation methods in 2016.