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Fair Value Measurements and Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis
The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis, as well as the estimated fair value of the Partnership’s financial instruments that are not accounted for at fair value on a recurring basis:
 
 
 
 
December 31, 2019
 
December 31, 2018
 
 
Fair Value Hierarchy Level
 
Carrying Amount
Asset (Liability)
$
 
Fair Value Asset (Liability)
$
 
Carrying Amount
Asset (Liability)
$
 
Fair Value Asset (Liability)
$
Recurring:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash
 
Level 1
 
306,256


306,256


233,580


233,580

Derivatives instruments (note 12)
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements
 
Level 2
 
(163,972
)

(163,972
)

(107,074
)

(107,074
)
Cross currency swap agreement
 
Level 2
 
—


—


(4,538
)

(4,538
)
Foreign currency forward contracts
 
Level 2
 
575


575


(4,650
)

(4,650
)
 
 
 
 
 
 
 
 
 
 
 
Non-Recurring:
 
 
 
 
 
 
 
 
 
 
Vessels held for sale (note 18)
 
Level 2
 
15,374


15,374


—


—

Vessels and equipment (note 18)
 
Level 2
 
176,577

 
176,577

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
 
 
 
 
Long-term debt - public (note 8)
 
Level 1
 
(1,067,740
)

(1,069,204
)

(1,027,696
)

(977,917
)
Long-term debt - non-public (note 8)
 
Level 2
 
(2,111,210
)

(2,136,315
)

(2,070,046
)

(2,082,316
)
Due to related parties - current (notes 11c and 11j)
 
Level 2
 
(20,000
)
 
(19,781
)

(125,000
)

(123,025
)
Obligations related to finance leases (note 14c)
 
Level 2
 
(21,453
)
 
(23,800
)
 
—

 
—
Summary of Partnership's Financing Receivables
The following table contains a summary of the Partnership’s financing receivables by type of borrower and the method by which the Partnership monitors the credit quality of its financing receivables on a quarterly basis:

 
 
Credit Quality Indicator
 
Grade
 
Year Ended
December 31,
2019
$
 
Year Ended
December 31,
2018
$
Direct financing leases
 
Payment activity
 
Performing
 
3,875

 
4,793