Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Notes)

v3.22.0.1
Fair Value Measurements (Notes)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair value measurements
The fair value topic of the FASB Accounting Standards Codification defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. We currently do not have any Level 1 financial assets or liabilities.
 Level 2 - Observable inputs other than quoted prices included in Level 1. Level 2 inputs include quoted prices for identical assets or liabilities in non-active markets, quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for substantially the full term of the asset or liability.
Level 3 - Unobservable inputs reflecting management’s own assumptions about the input used in pricing the asset or liability. We currently do not have any Level 3 financial assets or liabilities.
The following table presents the asset reported in the consolidated balance sheet measured at its fair value on a recurring basis as of December 31, 2021 and 2020 by level within the fair value hierarchy.
Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs
Total Level 1 Level 2 Level 3 Total losses
December 31, 2021
Recurring fair value measurements
     Available-for-sale equity securities
          EuroSite Power Inc. $ 74,995  $ —  $ 74,995  $ —  $ (37,497)
Total recurring fair value measurements $ 74,995  $ —  $ 74,995  $ —  $ (37,497)
December 31, 2020
Recurring fair value measurements
     Available-for-sale equity securities
          EuroSite Power Inc. $ 118,084  $ —  $ 118,084  $ —  $ (98,403)
Total recurring fair value measurements $ 118,084  $ —  $ 118,084  $ —  $ (98,403)
We utilize a Level 2 category fair value measurement to value its investment in EuroSite Power Inc. as an available-for-sale security at period end. That measurement is equal to the quoted market closing price at period end. Since this security is not actively traded we are classifying as Level 2.