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Fair Value Measurements, Financial Instruments and Credit Risk (Tables)
9 Months Ended
Sep. 30, 2013
Summary of Measurement of Financial Assets and Liabilities at Fair Value on Recurring Basis

Our assessment of the significance of a particular input to the fair value measurement requires judgment, which judgment may affect the valuation of their fair value and their placement within the fair value hierarchy levels.

 

 

Balance Sheet Location

 

 

September 30,
2013

 

 

Fair Value Measurements at Reporting Date Using

 

Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

Retirement plan asset—noncurrent             

Other long-term assets

 

 

 

  1,672

 

 

 

  1,672

 

 

 

  0

 

 

 

  0

 

Derivative liability—current             

Other payables and accruals

 

 

 

(22

)

 

 

  0

 

 

 

(22

)

 

 

  0

 

Total             

 

 

 

$

  1,650

 

 

$

  1,672

 

 

$

(22

)

 

$

  0

 

 

 

Balance Sheet Location

 

 

December 31,
2012

 

 

Fair Value Measurements at Reporting Date Using

 

Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

 

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

Derivative asset—current             

Other current assets

 

 

$

  34

 

 

$

  0

 

 

$

  34

 

 

$

  0

 

Retirement plan asset—noncurrent             

Other long-term assets

 

 

 

  860

 

 

 

  860

 

 

 

  0

 

 

 

  0

 

Derivative liability—current             

Other payables and accruals

 

 

 

(578

)

 

 

  0

 

 

 

(578

)

 

 

  0

 

Derivative liability—noncurrent             

Other long-term liabilities

 

 

 

(258

)

 

 

  0

 

 

 

(258

)

 

 

  0

 

Total             

 

 

 

$

  58

 

 

$

  860

 

 

$

(802

)

 

$

  0

 

 

Carrying Value and Approximate Fair Value of Long-Term Debt

The following table presents the carrying values and approximate fair values of our long-term debt.

 

 

September 30, 2013

 

  

December 31, 2012

 

 

Carrying
Value

 

  

Fair
Value

 

  

Carrying
Value

 

  

Fair
Value

 

 

(In thousands)

 

Term loans             

$

  0

  

  

$

  0

  

  

$

  96,875

  

  

$

  96,875

  

6.75% unsecured notes             

$

  351,028

  

  

$

  358,810

  

  

$

  351,142

  

  

$

  364,000