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Fair Value Measurements
3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Fair Value Measurements
Assets and Liabilities Carried at Fair Value
As of March 31, 2017, the Company’s financial assets and liabilities carried at fair value included cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities, outstanding debt, and interest rate derivative instruments. The fair value of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued liabilities approximates their respective carrying amounts because of the liquidity and short-term nature of these financial instruments.
The estimated fair value of the outstanding long-term debt and revolver was determined based on the market prices for similar financial instruments or model-derived valuations based on observable inputs. As of March 31, 2017, the estimated fair value of the outstanding long-term debt and revolver was approximately $490.0 million and these liabilities were considered to be Level 2 fair value measurements.
Recurring Fair Value Measurements
The fair value of interest rate derivative instruments is determined using the market standard methodology of discounted future variable cash receipts. The variable cash receipts are determined by discounting the future expected cash receipts that would occur if variable interest rates rise above the fixed rate of the swaps. The variable interest rates used in the calculation of projected receipts on the swap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. As of March 31, 2017, the fair value of the interest rate derivative instruments was approximately $2.4 million and these derivative instruments were considered Level 2 fair value measurements. 
As of March 31, 2017, the Company did not have any assets or liabilities subject to recurring measurement that were considered Level 3 fair value measurement (which require the use of significant unobservable inputs). During the three months ended March 31, 2017 there were no transfers between Level 1, Level 2 or Level 3 fair value measurements.
Non-Recurring Fair Value Measurements
Certain assets, including goodwill and identifiable intangible assets, are carried on the accompanying unaudited condensed consolidated balance sheets at cost and are re-measured to fair value on a non-recurring basis. These assets are classified as Level 3 fair value measurements within the fair value hierarchy. Goodwill and indefinite-lived intangible assets, net are tested for impairment annually or more frequently if events or changes in circumstances indicate a triggering event has occurred. The Company tests finite-lived intangible assets for impairment upon the occurrence of certain triggering events.