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Fair Value Measurements, Financial Instruments and Credit Risk (Tables)
6 Months Ended
Jun. 30, 2014
Summary of Measurement of Financial Assets and Liabilities at Fair Value on Recurring Basis

Recurring Fair Value Measurements. The following tables set forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2014 and December 31, 2013. These financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. 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.

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

Balance Sheet Location

 

June 30, 2014

 

 

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

Other long-term assets

 

$

2,010

 

 

$

2,010

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

Balance Sheet Location

 

December 31, 2013

 

 

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

Other long-term assets

 

$

1,908

 

 

$

1,908

 

 

 

 

 

 

 

 

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.

 

 

 

June 30, 2014

 

 

December 31, 2013

 

 

 

Carrying Value

 

 

Fair Value

 

 

Carrying Value

 

 

Fair Value

 

 

 

(In thousands)

 

 

(In thousands)

 

6.75% unsecured notes (quoted prices in active market for identical assets - level 1)

 

$

350,908

 

 

$

369,688

 

 

$

350,989

 

 

$

369,250

 

Capital lease obligation (significant other observable inputs - level 2)

 

$

2,538

 

 

$

2,538

 

 

$

 

 

$