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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Measurements [Abstract]  
Fair Value Of Assets And Liabilities On A Recurring Basis

The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2015 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2015

 

 

 

Active Markets for

 

Observable

 

 

 

 

 

 

 

 

 

 

 

Identical Assets

 

Inputs

 

Unobservable Inputs

 

Netting Cash and

 

Fair Value at

 

 

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Collateral

    

December 31, 2015

 

Derivative assets

 

$

 —

 

$

31,018

 

$

 —

 

$

 —

 

$

31,018

 

Derivative liabilities

 

 

 

 

 —

 

 

 

 

 

 

 —

 

Embedded derivative

 

 

 —

 

 

 —

 

 

(193,077)

 

 

 

 

 

(193,077)

 

Total net assets

 

$

 —

 

$

31,018

 

$

(193,077)

 

$

 —

 

$

(162,059)

 

 

The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2014 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2014

 

 

 

Active Markets for

 

Observable

 

 

 

 

 

 

 

 

 

 

 

Identical Assets

 

Inputs

 

Unobservable Inputs

 

Netting Cash and

 

Fair Value at

 

 

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Collateral

    

December 31, 2014

 

Derivative assets

 

$

 —

 

$

22,919

 

$

 —

 

$

(90)

 

$

22,829

 

Derivative liabilities

 

 

 

 

(90)

 

 

 

 

90

 

 

 

Total net assets

 

$

 —

 

$

22,829

 

$

 —

 

$

 —

 

$

22,829

 

 

Reconciliation Of Changes In Fair Value Of Embedded Derivative Classified As Level 3

The following table sets forth a reconciliation of changes in the fair value of the Partnership's embedded derivative classified as Level 3 in the fair value hierarchy (in thousands):

 

 

 

 

 

 

 

 

 

 

Significant Unobservable Inputs (Level 3)

 

 

 

Year Ended December 31,

 

 

    

2015

    

2014

 

Beginning balance

 

$

 —

 

$

 —

 

Initial fair value of embedded derivative - bifurcated from mezzanine equity

 

 

(183,095)

 

 

 —

 

Total (losses) included in earnings

 

 

(9,982)

 

 

 —

 

Ending balance

 

$

(193,077)

 

$

 —

 

 

 

 

 

 

 

 

 

(Losses) included in earnings related to derivatives still held as of

 

 

 

 

 

 

 

December 31, 2015, and 2014

 

$

(9,982)

 

$

 —