Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value, Assets Measured on Recurring Basis

The following tables show the fair values of certain of our financial instruments.



	June 30, 2012
	Balance		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash and cash equivalents	$	360,455	$	360,455	$	—	$	—
Restricted cash	17,170		17,170		—		—



	December 31, 2011
	Balance		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash and cash equivalents	$	178,756	$	178,756	$	—	$	—
Restricted cash	15,753		15,753		—		—

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following table provides the fair value measurement information about our long-term debt at June 30, 2012 and December 31, 2011.



	June 30, 2012
	Outstanding Face Amount		Carrying Value		Estimated Fair Value		Fair Value Hierarchy
	(In thousands)
Boyd Gaming Debt:
Bank credit facility	$	1,448,800	$	1,431,325	$	1,404,016	Level 2
9.125% Senior Notes due 2018	500,000		500,000		522,500		Level 1
9.00% Senior Notes due 2020	350,000		340,103		352,625		Level 1
6.75% Senior Subordinated Notes due 2014	215,668		215,668		216,207		Level 1
7.125% Senior Subordinated Notes due 2016	240,750		240,750		235,935		Level 1
Other	10,710		10,710		10,175		Level 3
Borgata Debt:
Borgata bank credit facility	24,200		24,200		24,200		Level 2
Borgata 9.50% Senior Secured Notes due 2015	398,000		388,266		390,239		Level 1
Borgata 9.875% Senior Secured Notes due 2018	393,500		383,154		369,890		Level 1
Total debt	$	3,581,628	$	3,534,176	$	3,525,787



	December 31, 2011
	Outstanding Face Amount		Carrying Value		Estimated Fair Value		Fair Value Hierarchy
	(In thousands)
Boyd Gaming Debt:
Bank credit facility	$	1,632,750	$	1,621,715	$	1,388,630	Level 2
9.125% Senior Notes due 2018	500,000		491,444		471,000		Level 1
6.75% Senior Subordinated Notes due 2014	215,668		215,668		208,120		Level 1
7.125% Senior Subordinated Notes due 2016	240,750		240,750		208,249		Level 1
Other	11,071		11,071		10,517		Level 3
Borgata Debt:
Borgata bank credit facility	40,200		40,200		40,200		Level 2
Borgata 9.50% Senior Secured Notes due 2015	398,000		387,049		378,100		Level 1
Borgata 9.875% Senior Secured Notes due 2018	393,500		382,559		358,085		Level 1
Total debt	$	3,431,939	$	3,390,456	$	3,062,901

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by 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 (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by 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 (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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