Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments

v3.21.2
Financial Instruments
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
The fair value of cash, accounts and notes receivable, trade accounts payable and accrued expenses approximate their carrying amounts due to the short-term maturities of these assets and liabilities.
Fair value of all other financial instruments are as follows:
Fair Value at June 30, 2021
Carrying amount Level 1 Level 2 Level 3 Total
Financial liabilities
Foreign exchange contracts $ 0.6  $ 0.6  $   $   $ 0.6 
Total Amended ABL Credit Facility 9.0    9.0    9.0 
Total foreign credit facilities 4.6    4.6    4.6 
Term Loan Facility 49.1    51.0    51.0 
Total financial liabilities $ 63.3  $ 0.6  $ 64.6  $   $ 65.2 

Fair Value at December 31, 2020
Carrying amount Level 1 Level 2 Level 3 Total
Financial liabilities
Foreign exchange contracts $ 1.1  $ 1.1  $ —  $ —  $ 1.1 
Total Amended ABL Credit Facility 10.0  —  10.0  —  10.0 
Total foreign credit facilities 4.5  —  4.5  —  4.5 
Term Loan Facility 70.0  —  73.8  —  73.8 
Total financial liabilities $ 85.6  $ 1.1  $ 88.3  $ —  $ 89.4 
The fair values of our net foreign currency contracts were estimated from market quotes, which are considered to be Level 1 inputs.
Borrowings under the Amended ABL Credit Facility, foreign line of credit and the Term Loan Facility are quoted in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the liability (Level 2 inputs).
We do not have any assets or liabilities that are valued using Level 3 unobservable inputs.