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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Measurements  
Schedule of recurring fair value measures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring Fair Value Measurements

 

 

 

 

 

 

(in millions)

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

As of December 31, 2014

    

 

    

    

 

    

    

 

    

    

 

    

 

Derivative Assets

 

$

—

 

$
191.8

 

$

—

 

$
191.8

 

Derivative Liabilities

 

 

—

 

 
(38.5)

 

 

—

 

 
(38.5)

 

Total

 

$

 —

 

$
153.3

 

$

 —

 

$
153.3

 

 

Schedule of carrying value and fair value of debt

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

 

 

2015

 

2014

 

 

 

(in thousands)

 

New Revolving Credit Facility

 

 

 

 

 

 

 

Carrying Value

 

$
902,148

 

$
545,000

 

Fair Value

 

 

(1)

 

$
512,414

 

 

 

 

 

 

 

 

 

Term Loan Facility

 

 

 

 

 

 

 

Carrying Value

 

$
700,000

 

$
696,916

 

Fair Value

 

 

(1)

 

$
653,798

 

 

 

 

 

 

 

 

 

2017 Senior Notes

    

 

    

    

 

    

 

Carrying Value (2)

 

$
350,000

 

$
348,669

 

Fair Value

 

$
17,281

 

$
190,400

 

 

 

 

 

 

 

 

 

2019 Senior Notes

 

 

 

 

 

 

 

Carrying Value (2)

 

$
577,914

 

$
293,064

 

Fair Value

 

$
27,090

 

$
184,932

 

 

 

 

 

 

 

 

 

2020 Senior Notes

 

 

 

 

 

 

 

Carrying Value (2)

 

$
222,087

 

$
105,234

 

Fair Value

 

$
10,827

 

$
73,311

 

(1)

The New Revolving Credit Facility and Term Loan Facility were stated at the carrying value as of December 31, 2015, as a basis for fair value is indeterminable.

 

(2)

At December 31, 2014 carrying value was equal to the face value, net of discount and were presented as a current liability in the Consolidated Balance Sheets. At December 31, 2015 the carrying value equals the face value and are presented as a long term liability in “Liabilities Subject to Compromise” in the Consolidated Balance Sheets.