Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Financial assets and liabilities measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:



(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at September 30, 2018
Assets
Deferred compensation plan	$	16,671	$	—	$	—	$	16,671
Derivative instruments	—		—		1,273		1,273
Total assets	$	16,671	$	—	$	1,273	$	17,944
Liabilities
Deferred compensation plan	$	27,835	$	—	$	—	$	27,835
Derivative instruments	—		4,722		6,224		10,946
Total liabilities	$	27,835	$	4,722	$	6,224	$	38,781



(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2017
Assets
Deferred compensation plan	$	14,966	$	—	$	—	$	14,966
Derivative instruments	—		—		2,239		2,239
Total assets	$	14,966	$	—	$	2,239	$	17,205
Liabilities
Deferred compensation plan	$	29,145	$	—	$	—	$	29,145
Derivative instruments	—		—		30,637		30,637
Total liabilities	$	29,145	$	—	$	30,637	$	59,782

Reconciliation of changes in the fair value of financial assets and liabilities classified as level 3

The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy:



	Nine Months Ended September 30,
(In thousands)	2018			2017
Balance at beginning of period	$	(28,398	)	$	(15,868	)
Total gain (loss) included in earnings	6,333			28,659
Settlement (gain) loss	17,114			(7,114		)
Transfers in and/or out of level 3	—			—
Balance at end of period	$	(4,951	)	$	5,677

Change in unrealized gain (loss) relating to assets and liabilities still held at the end of the period	$	(6,685	)	$	14,431

Carrying amounts and fair values of debt

The carrying amount and fair value of debt is as follows:



	September 30, 2018						December 31, 2017
(In thousands)	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Long-term debt	$	1,285,848		$	1,245,971		$	1,521,891		$	1,527,624
Current maturities	(67,000		)	(67,679		)	(304,000		)	(312,055		)
Long-term debt, excluding current maturities	$	1,218,848		$	1,178,292		$	1,217,891		$	1,215,569