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Fair Value Measurement and Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value Disclosures [Abstract]  
Liabilities Carried at Fair Value Measured on Recurring Basis

The following table provides the liabilities carried at fair value measured on a recurring basis as of September 30, 2014, which are included in other current liabilities on the Condensed Consolidated Balance sheet:

 

 

 

 

 

 

 

Fair Value Measurements at September 30, 2014 Using

 

 

 

Total Carrying

 

 

Quoted Prices in

 

 

 

 

 

 

Significant

 

 

 

Value at

 

 

Active Markets for

 

 

Significant Other

 

 

Unobservable

 

 

 

September 30,

 

 

Identical Assets

 

 

Observable Inputs

 

 

Inputs

 

In thousands

 

2014

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Interest rate swap agreements

 

 

2,389

 

 

 

-

 

 

 

2,389

 

 

 

-

 

Total

 

$

2,389

 

 

$

-

 

 

$

2,389

 

 

$

-

 

 

 

The following table provides the liabilities carried at fair value measured on a recurring basis as of December 31, 2013, which is included in other current liabilities on the Condensed Consolidated Balance sheet:

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2013 Using

 

 

 

Total Carrying

 

 

Quoted Prices in

 

 

 

 

 

 

Significant

 

 

 

Value at

 

 

Active Markets for

 

 

Significant Other

 

 

Unobservable

 

 

 

December 31,

 

 

Identical Assets

 

 

Observable Inputs

 

 

Inputs

 

In thousands

 

2013

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Interest rate swap agreements

 

 

3,005

 

 

 

-

 

 

 

3,005

 

 

 

-

 

Total

 

$

3,005

 

 

$

-

 

 

$

3,005

 

 

$

-

 

 

Estimated Fair Values and Related Carrying Values of Financial Instruments

The estimated fair values and related carrying values of the Company’s financial instruments are as follows:

 

 

 

September 30, 2014

 

 

December 31, 2013

 

 

Carry

 

 

Fair

 

 

Carry

 

 

Fair

 

In thousands

Value

 

 

Value

 

 

Value

 

 

Value

 

Interest rate swap agreement

$

2,389

 

 

$

2,389

 

 

$

3,005

 

 

$

3,005

 

4.375% Senior Notes

 

250,000

 

 

 

264,633

 

 

 

250,000

 

 

 

253,135