Table:
|  | Fair Value at December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
|  | (in thousands) |  |
| Interest rate swap |  |  |
| Beginning balance | $1,623 | $734 |
| Unrealized gain (loss) recognized in other comprehensive income (loss) | (1,660) | 889 |
| Ending balance | $(37) | 1,623 |
Paragraphs:
The following table summarizes activity for the interest rate swap:
There were no transfers between Level 1, Level 2 or Level 3 fair value hierarchy categories of financial instruments in the years ended December 31, 2019 and 2018.
Financial Instruments Not Recorded at Fair Value on a Recurring Basis
Some of the Company’s financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature. Such financial assets and financial liabilities include: cash and cash equivalents, restricted cash, net receivables, certain other assets, accounts payable, accrued price protection liability, accrued expenses, accrued compensation costs, and other current liabilities. The Company’s long-term debt is not recorded at fair value on a recurring basis, but is measured at fair value for disclosure purposes (Note8 ).
Question:
In which year was the beginning balance less than 1,000 thousands?
Answer: Because locate and analyze beginning balance in row 5, the answer is: 2018.