| Fair Value Measurements |
7 — Fair Value Measurements
The fair value of our assets and liabilities subject to recurring fair value measurements are as follows:
|
|
|
Fair Value at December 31, 2015
|
|
|
|
|
Fair
Value
|
|
Quoted Prices
in Active
Market for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
U.S. corporations
|
|
$
|
6,107,960
|
|
$
|
—
|
|
$
|
6,107,960
|
|
$
|
—
|
|
|
International corporations
|
|
1,494,244
|
|
—
|
|
1,494,244
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
7,602,204
|
|
$
|
—
|
|
$
|
7,602,204
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value at December 31, 2014
|
|
|
|
|
Fair
Value
|
|
Quoted Prices
in Active
Market for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
U.S. corporations
|
|
$
|
6,406,219
|
|
$
|
—
|
|
$
|
6,406,219
|
|
$
|
—
|
|
|
International corporations
|
|
1,507,574
|
|
—
|
|
1,507,574
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
7,913,793
|
|
$
|
—
|
|
$
|
7,913,793
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Our corporate bonds are valued by the third-party custodian at closing prices from national exchanges or pricing vendors on the valuation date.
There were no transfers into or out of any Levels during the years ended December 31, 2015 or 2014.
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