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Assets And Liabilities Measured At Fair Value
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Mar. 31, 2015
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| Fair Value Disclosures [Abstract] | Ìý | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets And Liabilities Measured At Fair Value |
(4)ÌýÌýÌýAssets and Liabilities Measured at Fair Value For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. LevelÌý1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. LevelÌý2 inputs are inputs, other than quoted market prices included within LevelÌý1, that are observable for the asset or liability, either directly or indirectly. LevelÌý3 inputs are unobservable inputs for the asset or liability.ÌýÌýLiberty does not have any assets or liabilities required to be measured at fair value considered to be Level 3. Liberty's assets and liabilities measured at fair value are as follows: Ìý
Ìý The majority of Liberty's LevelÌý2 financial assets and debt are primarily investments in debt related instruments and certain derivative instruments. The Company notes that these assets and liabilities are not always traded publicly or not considered to be traded on "active markets," as defined in GAAP.ÌýÌýThe fair values for such instruments are derived from a typical model using observable market data as the significant inputs or a trading price of a similar asset or liability is utilized.ÌýÌýAccordingly, those available-for-sale securities, financial instruments and debt or debt related instruments are reported in the foregoing table as LevelÌý2 fair value. The financial instrument assets included in the table above are included in the Other assets, at cost, net of accumulated amortization line item in the condensed consolidated balance sheets. Realized and Unrealized Gains (Losses) on Financial Instruments Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following: Ìý
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