Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Measurements  
Schedule of fair value level of assets and liabilities that are measured on a recurring basis

The following summarizes the fair value level of assets and liabilities that are measured on a recurring basis at December 31 (amounts in thousands):

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

2013

 

 

 

 

 

 

 

 

 

Derivative financial instruments - assets

 

$

 

2,495

 

 

2,495

 

Derivative financial instruments - liabilities

 

 

(2,013

)

 

(2,013

)

Total

 

$

 

482

 

 

482

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

 

 

 

 

 

 

 

Derivative financial instruments - assets

 

$

 

116

 

 

116

 

Derivative financial instruments - liabilities

 

 

(12,359

)

 

(12,359)

 

Total

 

$

 

(12,243

)

 

(12,243

)

Schedule of activity in the Level 3 balances

The following table presents the activity in the Level 3 balances (amounts in thousands):

 

 

 

Year Ended December 31,

 

Derivative financial instruments — liabilities

 

2013

 

2012

 

Beginning balance

 

$

 

$

(16,959

)

Unrealized gain

 

 

16,959

 

Ending balance

 

$

 

$

 

 

Schedule of Carrying values and fair values of financial instruments that are not carried at fair value

Carrying values and fair values of financial instruments that are not carried at fair value are as follows (amounts in thousands):

 

Long term debt, including current portion:

 

December 31, 2013

 

December 31, 2012

 

 

 

 

 

 

 

Carrying value

 

$

1,606,793

 

$

1,108,383

 

Fair value (a)

 

1,656,797

 

1,130,978

 

 

(a)          The fair value is based on valuations from third party financial institutions and is classified as Level 2 in the hierarchy.