2.4.0.8100130 - Disclosure - Fair Value Measurestruefalsefalse1false falsefalseC_0001483096_20130101_20130630http://www.sec.gov/CIK0001483096duration2013-01-01T00:00:002013-06-30T00:00:001false 4us-gaap_FairValueDisclosuresTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> 8. Fair Value Measures The fair-value-measurement standard defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standard characterizes inputs used in determining fair value according to a hierarchy that prioritizes those inputs based upon the degree to which they are observable. The three levels of the fair value hierarchy are as follows: Level 1 — inputs represent quoted prices in active markets for identical assets or liabilities. Level 2 — inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (for example, quoted market prices for similar assets or liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated inputs). Level 3 — inputs that are not observable from objective sources, such as management’s internally developed assumptions used in pricing an asset or liability (for example, an estimate of future cash flows used in management’s internally developed present value of future cash flows model that underlies the fair value measurement). Nonfinancial assets and liabilities initially measured at fair value include third-party business combinations, impaired long-lived assets (asset groups), and initial recognition of asset retirement obligations. The fair value of debt is the estimated amount the Partnership would have to pay to repurchase its debt, including any premium or discount attributable to the difference between the stated interest rate and market rate of interest at the balance sheet date. Fair values are based on quoted market prices or average valuations of similar debt instruments at the balance sheet date for those debt instruments for which quoted market prices are not available. Estimated fair values are determined by using available market information and valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. The use of different market assumptions or valuation methodologies may have a material effect on the estimated fair value amounts.     <div style="text-align: left;"> <table cellspacing="0" cellpadding="0" style="display: block; text-align: left; border: 0"> <tr> <th style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="14" style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1pt; padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> June 30, 2013 </th> <th colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="3" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </th> <th colspan="15" style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1pt; padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> December 31, 2012 </th> <th style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> </tr> <tr> <th style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="4" style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1pt; padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> Carrying amount </th> <th colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="3" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </th> <th colspan="5" style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1pt; padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> Fair value (Level 2) </th> <th colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="3" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </th> <th colspan="6" style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1pt; padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> Carrying amount </th> <th colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="3" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </th> <th colspan="4" style="border-bottom-color:#000000; border-bottom-style:solid; border-bottom-width:1pt; padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> Fair value (Level 2) </th> <th style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> </tr> <tr> <th style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> <th colspan="34" style="padding-left:0.7pt; padding-right:0.7pt; vertical-align:bottom"> ($ in thousands) </th> <th style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </th> </tr> <tr> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:top"> Financial liabilities: </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom" colspan="2">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="6" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> </tr> <tr> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:middle">   </td> <td colspan="12" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:middle">   </td> <td colspan="9" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:middle">   </td> <td colspan="14" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:middle">   </td> </tr> <tr> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:top"> Revolving credit facility </td> <td style="padding-top:0.7pt; vertical-align:bottom; text-align:right">$</td><td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right"></td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  216,200</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td style="padding-top:0.7pt; vertical-align:bottom; text-align:right">$</td><td style="padding-top:0.7pt; vertical-align:bottom; text-align:right"></td><td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right" colspan="2"></td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  216,200</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td style="padding-top:0.7pt; vertical-align:bottom; text-align:right">$</td><td style="padding-top:0.7pt; vertical-align:bottom; text-align:right"></td><td style="padding-top:0.7pt; vertical-align:bottom; text-align:right"></td><td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right" colspan="3"></td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">—</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td style="padding-top:0.7pt; vertical-align:bottom; text-align:right">$</td><td style="padding-top:0.7pt; vertical-align:bottom; text-align:right"></td><td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right" colspan="2"></td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">—</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> </tr> <tr> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:top"> 2021 Notes </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom" colspan="2">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  350,000</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  352,408</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="6" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  350,000</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  370,125</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> </tr> <tr> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:top"> 2022 Notes </td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom" colspan="2">   </td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  750,000</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  762,660</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="6" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  750,000</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  810,000</td> <td colspan="2" style="padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> </tr> <tr> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:top"> 2023 Notes </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom" colspan="2">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  1,400,000</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  1,309,000</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="6" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  1,400,000</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> <td colspan="4" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">   </td> <td style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom; text-align:right">  1,428,882</td> <td colspan="2" style="background-color:#c6d9f1; padding-right:0.7pt; padding-top:0.7pt; vertical-align:bottom">    </td> </tr> </table> </div> The carrying amount of cash and cash equivalents (Level 1), accounts receivable and accounts payable reported on the balance sheet approximates fair value due to their short-term maturities. </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15A -Subparagraph a-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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