Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2013 and December 31, 2012 (amounts in thousands):

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

 

 

 

 

 

 

 

 

September 30, 2013

 

 

 

 

 

 

 

 

 

Derivative financial instruments - assets (a)

 

$

 

1,954

 

 

1,954

 

Derivative financial instruments - liabilities

 

 

(6,491

)

 

(6,491

)

Total

 

$

 

(4,537

)

 

(4,537

)

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

Derivative financial instruments - assets (a)

 

$

 

116

 

 

116

 

Derivative financial instruments - liabilities

 

 

(12,359

)

 

(12,359

)

Total

 

$

 

(12,243

)

 

(12,243

)

 

(a)         Included in Other assets, net on the condensed consolidated balance sheets

Schedule of activity in the Level 3 balances

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

 

 

 

Nine months ended September 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Beginning balance

 

$

 

(16,959

)

Unrealized gain recognized

 

 

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):

 

 

 

September 30, 2013

 

December 31, 2012

 

 

 

 

 

 

 

Long term debt, including current portion:

 

 

 

 

 

Carrying value

 

$

1,614,926

 

$

1,108,383

 

Fair value (a)

 

1,642,946

 

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.