FAIR VALUE

3 Months Ended

Mar. 31, 2014

FAIR VALUE

FAIR VALUE

NOTE 13 — FAIR VALUE

The following table presents information about our financial instruments measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement in its entirety has been determined is based on the lowest level input significant to the fair value measurement in its entirety.  Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

Disclosures concerning financial instruments measured at fair value are as follows (in thousands):

	Fair Value Measurements at March 31, 2014 using
	Level 1		Level 2		Level 3		Total
Assets:
Assets held for sale	$	—	$	9,723	$	—	$	9,723
Interest rate swaps (asset)	—		208		—		208
Liabilities:
Interest rate swaps (liability)	—		1,796		—		1,796
Fixed-rate debt	—		359,006		—		359,006

	Fair Value Measurements at December 31, 2013 using
	Level 1		Level 2		Level 3		Total
Assets:
Assets held for sale	$	—	$	12,224	$	—	$	12,224
Interest rate swaps (asset)	—		253		—		253
Liabilities:
Interest rate swaps (liability)	—		1,772		—		1,772
Fixed-rate debt	—		319,429		—		319,429

There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the first quarter of 2014.