11.	FAIR VALUE

The carrying amount and estimated fair value of the Company’s financial instrument assets and liabilities, which are not measured at fair value on the Consolidated Balance Sheets, are listed in the table below:

	December 31, 2017
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Financial Assets:
Cash and cash equivalents	$	14,563	$	14,563	$	-	$	-	$	14,563
Restricted cash		39,991		39,991		-		-		39,991
Prepaid expenses and other current assets		2,352		-		2,352		-		2,352

Financial Liabilities:
Accrued expenses	$	11,771	$	-	$	11,771	$	-	$	11,771
Other short term liabilities		558		-		558		-		558
Credit facility		52,593		-		47,200		-		47,200

	December 31, 2016
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Financial Assets:
Cash and cash equivalents	$	21,064	$	21,064	$	-	$	-	$	21,064
Restricted cash		6,399		6,399		-		-		6,399
Prepaid expenses and other current assets		2,434		-		2,434		-		2,434
Noncurrent restricted cash		20,252		20,252		-		-		20,252

Financial Liabilities:
Accrued expenses	$	12,815	$	-	$	12,815	$	-	$	12,815
Other short term liabilities		653		-		653		-		653
Term loan		44,267		-		40,687		-		40,687

We estimate fair value of Facility 1 of the revolving credit facility based on a present value analysis utilizing aggregate market yields obtained from independent pricing sources for similar financial instruments. The carrying value for Facility 2 and Facility 3 of the revolving credit facility approximates fair value due to the fact that the borrowings were made in close proximity to December 31, 2017.

The fair value of the Term loan is estimated based on a present value analysis utilizing aggregate market yields obtained from independent pricing sources for similar financial instruments.

The carrying amounts reported on the Consolidated Balance Sheets for Cash and cash equivalents, Restricted cash and Noncurrent restricted cash approximate fair value because they are highly liquid.

The carrying amounts reported on the Consolidated Balance Sheets for Prepaid expenses and Other current assets, Accrued expenses and Other short term liabilities approximate fair value due to the short-term nature of these items.