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Financial Instruments | 12 Months Ended
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Dec. 31, 2020
Major components of tax expense (income) [abstract] |
Financial Instruments | 14. FINANCIAL INSTRUMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy establishes six levels to classify the inputs to valuation techniques used to measure the fair value. The three levels of the fair value hierarchy are: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 – Inputs other than quoted prices that are observable either directly or indirectly Level 3 – Inputs that are not based on observable market data Cash is measured using level 1 inputs and Investment is measured using level 3 inputs.

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