Table:
|  | Level 1 | Level 2 | Level 3 |
| --- | --- | --- | --- |
|  | (In thousands) |  |  |
| Assets |  |  |  |
| Cash equivalents: Money market funds | $256,915 | $ - | $ - |
| Other current assets: |  |  |  |
| Indemnification - Sale of SSL | $ - | $ - | $ 598 |
| Liabilities |  |  |  |
| Long term liabilities: |  |  |  |
| Indemnification - Globalstar do Brasil S.A. | $ - | $ - | $145 |
Paragraphs:
Assets and Liabilities Measured at Fair Value
The following table presents our assets and liabilities measured at fair value on a recurring or non-recurring basis at December 31,
2019:
The carrying amount of money market funds approximates fair value as of each reporting date because of the short maturity of those
instruments.
The Company did not have any non-financial assets or non-financial liabilities that were recognized or disclosed at fair value as of
December 31, 2019.
Question:
What is the usefulness of the carrying amount of money market funds?
Answer: approximates fair value as of each reporting date