Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2012

Assets and liabilities measured at fair value on recurring basis

The following tables present our assets and liabilities that are measured at fair value on a recurring basis and the levels of inputs used to measure fair value:



	Balance Sheet Location	Fair Value Measurements At September 30, 2012 Using				Total
	Balance Sheet Location	Level 1		Level 2	Level 3	Total
		(In thousands)
Assets:
Interest rate swap	Prepaid expenses and other current assets	$	—	3,269	—	3,269
Interest rate swaps	DFL and other assets	—		16,558	—	16,558
Investments held in Rabbi Trusts:
Cash and cash equivalents		3,120		—	—	3,120
U.S. equity mutual funds		11,305		—	—	11,305
Foreign equity mutual funds		2,716		—	—	2,716
Fixed income mutual funds		4,391		—	—	4,391
Investments held in Rabbi Trusts	DFL and other assets	$	21,532	—	—	21,532
Total assets at fair value		$	21,532	19,827	—	41,359

Liabilities:
Contingent consideration	Other non-current liabilities	$	—	—	478	478
Total liabilities at fair value		$	—	—	478	478



	Balance Sheet Location	Fair Value Measurements At December 31, 2011 Using				Total
	Balance Sheet Location	Level 1		Level 2	Level 3	Total
		(In thousands)
Assets:
Interest rate swaps	DFL and other assets	$	—	21,843	—	21,843
Investments held in Rabbi Trusts:
Cash and cash equivalents		3,783		—	—	3,783
U.S. equity mutual funds		8,850		—	—	8,850
Foreign equity mutual funds		2,526		—	—	2,526
Fixed income mutual funds		3,537		—	—	3,537
Investments held in Rabbi Trusts	DFL and other assets	18,696		—	—	18,696
Total assets at fair value		$	18,696	21,843	—	40,539

Liabilities:
Contingent consideration	Accrued expenses	$	—	—	1,000	1,000
Total liabilities at fair value		$	—	—	1,000	1,000

Assets and liabilities measured at fair value on nonrecurring basis

The following tables present our assets and liabilities that are measured at fair value on a nonrecurring basis and the levels of inputs used to measure fair value:



	Fair Value Measurements At September 30, 2012 Using				Total Losses ⁽²⁾
	Level 1		Level 2	Level 3	Three months ended		Nine months ended
	(In thousands)
Assets held for sale:
Revenue earning equipment: ⁽¹⁾
Trucks	$	—	—	11,994	$	3,664	$	9,153
Tractors	—		—	8,616	1,097		2,639
Trailers	—		—	407	400		1,183
Total assets at fair value	$	—	—	21,017	$	5,161	$	12,975



	Fair Value Measurements At September 30, 2011 Using				Total Losses ⁽²⁾
	Level 1		Level 2	Level 3	Three months ended		Nine months ended
	(In thousands)
Assets held for sale:
Revenue earning equipment ⁽¹⁾
Trucks	$	—	—	6,401	$	1,275	$	3,875
Tractors	—		—	1,972	425		1,377
Trailers	—		—	357	305		815
Total assets at fair value	$	—	—	8,730	$	2,005	$	6,067

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(1)	Represents the portion of all revenue earning equipment held for sale that is recorded at fair value, less costs to sell.


(2)	Total losses represent fair value adjustments for all vehicles held for sale throughout the period for which fair value was less than carrying value.

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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