Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

The tables below present the Company’s financial assets and liabilities measured at fair value on a recurring basis:



	Fair Value Measurements as of September 30, 2016
	Total		Level 1		Level 2		Level 3
	(in thousands)
Cash equivalents	$	17,296	$	4,404	$	12,892	$	—
Cash equivalents measured at net asset value	166,780		—		—		—
Restricted cash	5,000		5,000		—		—
Short-term investments	287,995		—		287,995		—
Fuel derivative contracts:
Crude oil call options	4,072		—		4,072		—
Heating oil swaps	7,321		—		7,321		—
Foreign currency derivatives	88		—		88		—
Total assets measured at fair value	$	488,552	$	9,404	$	312,368	$	—
Fuel derivative contracts:
Heating oil swaps	$	712	$	—	$	712	$	—
Foreign currency derivatives	18,757		—		18,757		—
Total liabilities measured at fair value	$	19,469	$	—	$	19,469	$	—



	Fair Value Measurements as of December 31, 2015
	Total		Level 1		Level 2		Level 3
	(in thousands)
Cash equivalents	$	5,665	$	1,648	$	4,017	$	—
Cash equivalents measured at net asset value	61,577		—		—		—
Restricted cash	5,000		5,000		—		—
Short-term investments	278,545		—		278,545		—
Fuel derivative contracts:
Heating oil put options	1,060		—		1,060		—
Foreign currency derivatives	6,550		—		6,550		—
Total assets measured at fair value	$	358,397	$	6,648	$	290,172	$	—
Fuel derivative contracts:
Heating oil swaps	$	40,530	$	—	$	40,530	$	—
Foreign currency derivatives	1,049		—		1,049		—
Interest rate derivatives	312		—		312		—
Total liabilities measured at fair value	$	41,891	$	—	$	41,891	$	—

The table below presents the Company’s debt (excluding obligations under capital leases) measured at fair value: