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, 2020

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, 2020 and 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


	December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative contracts (Note 19)	$	3,249	$	—	$	3,249	$	—
Restoration plan assets	3,724		3,724		—		—
Total	$	6,973	$	3,724	$	3,249	$	—

Liabilities:
Derivative contracts (Note 19)	$	34,466	$	—	$	34,466	$	—


	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)	$	11,376	$	—	$	11,376	$	—

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, 2020 (there were no such assets or liabilities measured during the year ended December 31, 2019). The Company performed its annual impairment test on its goodwill on October 1, 2020, and determined that an impairment existed with respect to the Performance Chemicals segment. As a result, the Company recorded a non cash goodwill impairment charge of $260,000. 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, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Losses
Assets:
Goodwill(1)	$	717,738	$	—	$	717,738	$	—	$	(260,000)

(1) Goodwill with a carrying amount of $973,578 was written down to $717,738 as part of the Company’s annual impairment assessment on October 1, 2020. This resulted in an impairment charge of $260,000 on the consolidated statements of income.