Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk (Tables)

v3.20.1
Financial Instruments, Fair Value, Hedging Activities, and Concentrations of Credit Risk (Tables)
3 Months Ended
Mar. 31, 2020
Text Block [Abstract]  
Summary of Fair Value Measurements and Financial Statement Presentation

The fair values of our assets, liabilities, and derivative positions recorded at fair value and their respective levels in the fair value hierarchy as of March 31, 2020 and December 31, 2019, were as follows:

 

 

March 31, 2020

 

 

March 31, 2020

 

 

Fair Values of Assets

 

 

Fair Values of Liabilities

 

In Thousands

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Other items reported at fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term investments

$

38,620

 

 

$

 

 

$

 

 

$

38,620

 

 

$

 

 

$

 

 

$

 

 

$

 

Commodity futures and options

 

603

 

 

 

 

 

 

 

 

 

603

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing lease obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,509

 

 

 

 

 

 

15,509

 

Total

$

39,223

 

 

$

 

 

$

 

 

$

39,223

 

 

$

 

 

$

15,509

 

 

$

 

 

$

15,509

 

 

 

December 31, 2019

 

 

December 31, 2019

 

 

Fair Values of Assets

 

 

Fair Values of Liabilities

 

In Thousands

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Other items reported at fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing lease obligations

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

15,651

 

 

$

 

 

$

15,651

 

Commodity futures and options

 

62

 

 

 

 

 

 

 

 

 

62

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

$

62

 

 

$

 

 

$

 

 

$

62

 

 

$

 

 

$

15,651

 

 

$

 

 

$

15,651

 

Composition of Short-term Investments

The composition of our short-term investments at March 31, 2020 and December 31, 2019 were as follows:

 

As of March 31,

 

 

As of December 31,

 

In Thousands

2020

 

 

2019

 

Corporate debt securities

$

29,677

 

 

$

 

Commercial paper

 

8,943

 

 

 

 

Total

$

38,620

 

 

$

 

Summary of Certain Amounts Related to Hedging Activities

Certain amounts related to our hedging activities are as follows:

 

Amount of Gain (Loss)

Recognized in AOCI

 

 

Amount of Gain (Loss)

Reclassified to Earnings

 

 

For the Three Months Ended March 31,

 

 

For the Three Months Ended March 31,

 

In thousands

2020

 

 

2019

 

 

2020

 

 

2019

 

Cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity derivative contracts

$

(163

)

 

$

 

 

$

14

 

 

$

 

Total

$

(163

)

 

$

 

 

$

14

 

 

$