Fair Value Measurement

12 Months Ended

Dec. 31, 2015

NOTE 16 – Fair Value Measurement

Recurring Fair Value Measurement

The following tables summarize our financial assets and financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.


	Recurring Fair Value Measurement at December 31, 2015
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Investments	$	51	$	--	$	--	$	51
Derivatives		--		1		--		1
Liabilities
Derivatives		--		(156)		--		(156)
Total recorded at fair value	$	51	$	(155)	$	--	$	(104)


	Recurring Fair Value Measurement at December 31, 2014
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Investments	$	54	$	--	$	--	$	54
Derivatives		--		--		--		--
Liabilities
Derivatives		--		(2,177)		--		(2,177)
Total recorded at fair value	$	54	$	(2,177)	$	--	$	(2,123)

Nonrecurring Fair Value Measurement

The following tables provide information about financial assets and liabilities not carried at fair value on a nonrecurring basis in our consolidated balance sheets:


			Fair Value Measurement at December 31, 2015
(Dollars in thousands)	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and Cash equivalents	$	19,702	$	19,702	$	--	$	--	$	19,702
Accounts receivables		10,036		10,036		--		--		10,036
Restricted Cash		160		160		--		--		160
Financial liabilities
Accounts and film rent payable	$	32,929	$	32,929	$	--	$	--	$	32,929
Notes payable		103,028		--		--		99,554		99,554
Subordinated debt		27,913		--		--		13,338		13,338


			Fair Value Measurement at December 31, 2014
(Dollars in thousands)	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and Cash equivalents	$	50,248	$	50,248	$	--	$	--	$	50,248
Accounts receivables		11,348		11,348		--		--		11,348
Restricted Cash		1,433		1,433		--		--		1,433
Financial liabilities
Accounts and film rent payable	$	28,845	$	28,845	$	--	$	--	$	28,845
Notes payable		136,123		--		--		116,115		116,115
Subordinated debt		27,913		--		--		10,096		10,096

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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