Annual report pursuant to Section 13 and 15(d)

Financial Instruments

v3.20.4
Financial Instruments
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Financial instruments are required to be disclosed at fair value in the financial statements.
The fair value of cash, accounts and notes receivable and accounts payable and accrued expenses approximate their carrying amounts due to the short-term maturities of these assets and liabilities.
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 

Fair Value at December 31, 2019
Carrying amount Level 1 Level 2 Level 3 Total
Financial liabilities
Foreign exchange contracts $ 0.7  $ 0.7  $ —  $ —  $ 0.7 
Total Amended ABL Credit Facility 42.2  —  42.2  —  42.2 
Total financial liabilities $ 42.9  $ 0.7  $ 42.2  $ —  $ 42.9 
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 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.