Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value of Financial Instruments

Schedule of estimated fair value of financial instruments

The estimated fair value of financial instruments is as follows (dollars in thousands):

	Carrying		Fair
	Value		Value
December 31, 2015
Liabilities - long-term debt (carried at cost)		286,046		291,306
December 31, 2014
Assets - investment in U.S. Treasury obligations	$	808	$	808
Liabilities - long-term debt (carried at cost)		287,179		296,908

Schedule of assets and liabilities measured at fair value on a recurring basis

Liabilities carried at amortized cost with fair value disclosure on a recurring basis represent long-term debt. A summary is as follows (dollars in thousands):

	December 31,
	2015		2014
Asset value measurements using:
Quoted prices in active markets for identical assets (Level 1)	$	—	$	808
Significant other observable inputs (Level 2)		—		—
Significant unobservable inputs (Level 3)		—		—
	$	—	$	808
Liability value measurements using:
Quoted prices in active markets for identical liabilities (Level 1)	$	—	$	—
Significant other observable inputs (Level 2)		291,306		296,908
Significant unobservable inputs (Level 3)		—		—
	$	291,306	$	296,908