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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair value assets and liabilities measured on recurring basis
The following tables set forth our financial assets and liabilities as of December 31, 2019 and 2018 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement.
 
Fair Value
as of
December 31,
2019
 
Fair Value Measurements at December 31, 2019
Using Fair Value Hierarchy
 
Level 1
 
Level 2
 
Level 3
 
Valuation
Technique
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
140,882

 
$
140,882

 
$

 
$

 
Market
Restricted cash and cash equivalents
14,561

 
14,561

 

 

 
Market
Derivative assets
115

 

 
115

 

 
Market
Total
$
155,558

 
$
155,443

 
$
115

 
$

 
 
 
Fair Value
as of
December 31,
2018
 
Fair Value Measurements at December 31, 2018
Using Fair Value Hierarchy
 
Level 1
 
Level 2
 
Level 3
 
Valuation
Technique
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
152,719

 
$
152,719

 
$

 
$

 
Market
Restricted cash and cash equivalents
15,134

 
15,134

 

 

 
Market
Derivative assets
4,886

 

 
4,886

 

 
Market
Total
$
172,739

 
$
167,853

 
$
4,886

 
$

 
 

Carrying amounts and fair values of financial instruments
The carrying amounts and fair values of our financial instruments at December 31, 2019 and 2018 are as follows:
 
December 31, 2019
 
December 31, 2018
 
Carrying Amount
of Liability
 
Fair Value
of Liability
 
Carrying Amount
of Liability
 
Fair Value
of Liability
Credit Facilities
$
150,000

 
$
150,000

 
$
425,000

 
$
425,000

Unsecured Term Loan
215,000

 
215,000

 
120,000

 
120,000

ECA Financings
147,644

 
150,805

 
189,080

 
190,216

Bank Financings
993,593

 
1,010,482

 
619,715

 
623,604

Senior Notes
3,600,000

 
3,787,268

 
3,450,000

 
3,446,826