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Fair Value Of Financial Instruments
9 Months Ended
Sep. 30, 2014
Fair Value Of Financial Instruments [Abstract]  
Fair Value Of Financial Instruments

(9)Fair Value of Financial Instruments

 

The carrying amounts reported in the consolidated balance sheets for cash, accounts receivable, accounts payable and short term line of credit approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company’s collateralized financing obligations of $121.8 million as of September 30, 2014 were estimated to have a fair value of approximately $118.7 million based on the fair value of estimated future payments calculated using prevailing interest rates. The fair value of these financial instruments would be categorized as Level 3 of the fair value hierarchy.  Management believes that the balances of the Company’s revolving credit facilities of $348.8 million, term loans totaling $263.3 million, senior secured notes of $86.5 million, asset-backed notes of $332.9 million, term loans held by VIE of $10.3 million, net investment in direct finance leases of $97.4 million and capital lease obligations of $3.0 million approximate their fair values as of September 30, 2014. The fair value of these financial instruments would be categorized as Level 3 of the fair value hierarchy.