FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

A rollforward of our Level 3 liability measured at fair value on a recurring basis follows (in thousands).

Level 3 liability, January 1, 2016	$	—
Addition		507,427
Change in fair value		55,854
Level 3 liability, December 31, 2016		563,281
Change in fair value		(200,322	)
Level 3 liability, December 31, 2017	$	362,959

Summary of the estimated fair value of debt instruments

A summary of the estimated fair value of our debt financial instruments follows.

	December 31, 2017				December 31, 2016
	Carrying value		Estimated fair value (Level 2)		Carrying value		Estimated fair value (Level 2)
	(In thousands)
Summit Holdings Revolving Credit Facility	$	261,000	$	261,000	$	648,000	$	648,000
Summit Holdings 5.5% Senior Notes ($300.0 million     principal)		297,090		301,750		296,484		294,500
Summit Holdings 5.75% Senior Notes ($500.0 million     principal)		493,102		501,667		—		—
Summit Holdings 7.5% Senior Notes ($300.0 million     principal) (1)		—		—		295,817		316,000

(1) Debt was extinguished following the 5.75% Senior Notes offering in February 2017. In conjunction with the early debt extinguishment, the remaining unamortized debt issuance costs were written off.