Ecovyst, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2019 and 2018, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.



	December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative contracts (Note 19)	$	3,928	$	—	$	3,928	$	—
Restoration plan assets	4,199		4,199		—		—
Total	$	8,127	$	4,199	$	3,928	$	—

Liabilities:
Derivative contracts (Note 19)	$	12,415	$	—	$	12,415	$	—



	December 31, 2018		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative contracts (Note 19)	$	20,768	$	—	$	20,768	$	—
Restoration plan assets	4,244		4,244		—		—
Total	$	25,012	$	4,244	$	20,768	$	—

Liabilities:
Derivative contracts (Note 19)	$	2,026	$	—	$	2,026	$	—

Fair Value Measurements, Nonrecurring

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a non-recurring basis as of December 31, 2019 (there were no such assets or liabilities measured during the year ended December 31, 2018). The Company performed its annual impairment test on its indefinite-lived intangible assets on October 1, 2019, and determined that an impairment existed with respect to one of its in-process research and development intangible assets. Refer to Note 15 to these consolidated financial statements for a description of the valuation techniques the Company utilized to determine such fair value and for the results of the impairment testing procedures performed.



	As of December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Losses
Assets:
In-process research and development intangible assets⁽¹⁾	$	5,200	$	—	$	—	$	5,200	$	(1,600	)

⁽¹⁾

In-process research and development with a carrying amount of $6,800 were written down to their implied fair value of $5,200 as part of the Company’s annual impairment assessment on October 1, 2019. This resulted in an impairment charge of $1,600, which was recorded to other operating expense, net, on the consolidated statements of income.