2018
TOTAL LEVEL 1 LEVEL 2 LEVEL 3
30,612 30,612 — —
Domestic 37,952 37,952 — —
International 40,008 40,008 — —
42,191 42,191 — —
$ 150,763 150,763 — —
— 114 —
ASSETS
TRADING SECURITIES:
Money market funds
$
Equities:
Mutual funds
TOTAL TRADING SECURITIES
ASSETS
Interest rate swaps
$
114
(B) FAIR VALUE MEASUREMENTS ON A NONRECURRING BASIS
The following table presents fair value measurements of nonfinancial assets that are measured at fair value on a
nonrecurring basis at March 31, 2019 and 2018 (in thousands):
TOTAL LEVEL 1 LEVEL 2 LEVEL 3 TOTAL
LOSSES
49,180 — 49,180 — 3,292
2018
Property and equipment
During 2018, as a result of the decreased economic activity in Alaska’s and North Dakota’s oilfields, the Corporation
performed an impairment analysis on its property and equipment used in oilfield services. The estimated undiscounted
future cash flows generated by the property and equipment were deemed to be less than its carrying value. The
carrying value of the property and equipment was reduced to fair value. Management estimated fair value based on
observable market transactions involving sales of comparable equipment. There were no fair value measurements on
a nonrecurring basis as of March 31, 2019.
(C) INVESTMENTS AT NET ASSET VALUE
The Corporation uses Net Asset Value (NAV) to determine the fair value of all the underlying investments which (a) do
not have a readily determinable fair value and (b) prepare their financial statements consistent with the measurement
principles of an investment company or have the attributes of an investment company. These investments, which are
included in other investments on the consolidated balance sheets, primarily include private equity investment funds
that cannot be redeemed with the investees, but the Corporation receives distributions through the liquidation of the
underlying assets of the investees. The Corporation’s estimate of the period of time over which the underlying assets
are expected to be liquidated by the investees are noted in the below table.
62
BBNC FY2019 ANNUAL REPORT