Annual report pursuant to Section 13 and 15(d)

Fair Value Of Measurements

v3.8.0.1
Fair Value Of Measurements
 12 Months Ended
Dec. 31, 2017
Fair Value Of Measurements [Abstract]  
Fair Value Of Measurements

NOTE 10.  FAIR VALUE MEASUREMENTS



We measure certain financial assets and liabilities at fair value on a recurring basis.  Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:



Level 1- inputs to the valuation methodology are quoted market prices for identical assets or liabilities in active markets.



Level 2- inputs to the valuation methodology include quoted prices in markets that are not active or model inputs that are

              observable either directly or indirectly for substantially the full term of the asset or liability.



Level 3- inputs to the valuation methodology are based on prices or valuation techniques that are unobservable.



























Assets and liabilities measured at fair value on a recurring basis at December 31, 2017 and December 31, 2016 were as follows:







 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2017



 

Level 1

 

Level 2

 

Level 3

 

Total



 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

 

 -

 

 

 46 

 

 

 -

 

 

 46 



 

$

 -

 

$

 46 

 

$

 -

 

$

 46 



 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

$

 -

 

$

 993 

 

$

 -

 

$

 993 



 

$

 -

 

$

 993 

 

$

 -

 

$

 993 



 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2016



 

Level 1

 

Level 2

 

Level 3

 

Total



 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

$

 -

 

$

 1,281 

 

$

 -

 

$

 1,281 



 

$

 -

 

$

 1,281 

 

$

 -

 

$

 1,281 



 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

$

 -

 

$

 -

 

$

 -

 

$

 -



 

$

 -

 

$

 -

 

$

 -

 

$

 -



Derivative financial instruments are recorded at fair value based on current market pricing models.  No nonrecurring fair value measurements existed at December 31, 2017 and December 31, 2016.