Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Hierarchy, Assets and Liabilities Measured on Recurring Basis

The following tables present the hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017:



(in thousands)	March 31, 2018
Balance sheet location:	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	151	$	—	$	—	$	151
Prepaid expenses & other:
Interest rate swaps	—		3,673		—		3,673
Option to acquire tangible assets					6,497		6,497
Deferred charges & other assets, net:
Interest rate swaps	—		13,692		—		13,692
Total	$	151	$	17,365	$	6,497	$	24,013



(in thousands)	December 31, 2017
Balance sheet location:	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	150	$	—	$	—	$	150
Prepaid expenses & other:
Interest rate swaps	—		2,411		—		2,411
Deferred charges & other assets, net:
Interest rate swaps	—		10,776		—		10,776
Total	$	150	$	13,187	$	—	$	13,337

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

The following table presents our financial instruments measured at fair value using unobservable inputs (Level 3):



	Fair Value Measurements Using Unobservable Inputs (Level 3)
	March 31, 2018		December 31, 2017
Balance, beginning of period	$	—	$	—
Sprint Territory Expansion (Note 3):
Option to acquire tangible assets	6,497		—
Balance, end of period	$	6,497	$	—

The option is exercisable at any time and expires in two years. The option was measured for fair value using a cost approach on a recurring basis and using Level 3 inputs including the cost of the underlying assets to be acquired and the contractual selling price of those assets.