Amendment #4 Page 525 of 868 TA!! cctlftwil• pricing the asset or liateny, aro are based on market data obtained from sources independent of is. Unobservable nous reflect assumptions market participants would Ilse in pricing tie asset or Saban/ based on the test informaton available in the circumstarces The rserarchy is broken down rao three levels based on the rebaday of moots as follows Level 1—Valuations based on quoted aces in active markets for denbcal assets or liabilities that we have the ally to access. Valuation &Waimea& and dock discounts are not applied to Level 1 instruments Because valuators are based on quoted paces that are read./ and regularly avalable in an acme market, valuation of these instruments does rot entail a significant degree of judgment Level 2—Vatedons based on quoted paces in markets that are not active or for which al regal cant inputs are observatie ether dread/ or narectry Valuationsfor Level 2 are prepared on an indiniel instrument taws using data Maned from recent transactors fa deMcal secuntes n inaarve markets or prang data from simldr insthrnents n active and inactive mantas Level 3—Vabatons based on noes that are unobservable and signficarr to the overal fair vake measisement For cash and cash equwalerts cash committed for construction projects restricted cash, accounts renewable. accounts payable, and accrued liabilities. the carrying anoint approximates fair value because of the short-term matuity d the instrtrnerts For due to parent and affiliates, the carrying amount approximaes far value based on compered° market interest rates for wily ristruments See hble 5 for disclosures related to the fair value dots long-ferm debt and Note 7 for drsclosures related to the far value of derivative instruments Foreign Lanny We determine the (sent Orel curency d each entity based on a number of factors indica° the predominant currency fa the entity's sales and expendkres and the entitys batten ngs Khan an entity s