Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Summary of Items Measured at Fair Value

The following table categorizes items measured at fair value at June 30, 2018:

			Fair Value Measurement at Reporting Date Using
June 30, 2018	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(Dollars in thousands)
Assets
Certificates of deposit	$	750	$	—	$	750	$	—
Cash surrender value		8,231		—		8,231		—
Derivative contracts		2,730		—		2,730		—
Total	$	11,711	$	—	$	11,711	$	—
Liabilities
Derivative contracts	$	19,161	$	—	$	19,161	$	—
Embedded derivative liability		8,375		—		—		8,375
Total	$	27,536	$	—	$	19,161	$	8,375

The following table categorizes items measured at fair value at December 31, 2017:

			Fair Value Measurement at Reporting Date Using
December 31, 2017	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(Dollars in thousands)
Assets
Certificates of deposit	$	750	$	—	$	750	$	—
Cash surrender value		8,040		—		8,040		—
Derivative contracts		6,342		—		6,342		—
Total	$	15,132	$	—	$	15,132	$	—
Liabilities
Derivative contracts	$	16,106	$	—	$	16,106	$	—
Embedded derivative liability		4,685		—		—		4,685
Total	$	20,791	$	—	$	16,106	$	4,685

Summary of Changes in Level 3 Fair Value Measurement of Embedded Derivative Liability

The following table summarizes the changes during the first six months of 2018 in level 3 fair value measurement of the embedded derivative liability relating to the redeemable preferred shares issued in connection with the acquisition of European operations:

Six Months Ended June 30, 2018
(Dollars in thousands)
Change in fair value:
Beginning fair value – December 31, 2017	$	4,685
Change in fair value of redeemable preferred stock embedded derivative liability		3,690
Ending fair value at June 30, 2018	$	8,375

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The estimated fair value, as well as the carrying value, of the company’s debt instruments are shown below (in thousands):

	June 30, 2018
(Dollars in thousands)
Estimated aggregate fair value	$	693,847
Aggregate carrying value (1)		695,116

⁽¹⁾ Long-term debt excluding the impact of unamortized debt issuance costs.