Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Summary of Fair Value of Financial Instruments at Carrying and Fair Value
The carrying amount of the Company’s floating-rate debt approximated fair value because the interest rates were variable and reflective of market rates.
໿

2017
 
2016

Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Credit Facility (a)
$
25,000

 
$
—

 
$
—

 
$
—

6.125% Senior Notes (b)
595,196

 
618,000

 
390,219

 
412,000

Total
$
620,196

 
$
618,000

 
$
390,219

 
$
412,000

(a)
Floating-rate debt.
(b)
The fair value was based upon Level 2 inputs. See Note 5 for additional information about the Company’s 6.125% Senior Notes.
Fair Value of Assets and Liabilities Measured on Recurring Basis
The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis:
December 31, 2017
Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
 
Derivative financial instruments
Fair value of derivatives
 
$
—

 
$
406

 
$
—

 
$
406

Liabilities
 
 
 
 
 
 
 
 
 
Derivative financial instruments
Fair value of derivatives
 
—

 
(29,028
)
 
—

 
(29,028
)
Total net liabilities
 
 
$
—

 
$
(28,622
)
 
$
—

 
$
(28,622
)

 
 
 
 
 
 
 
 
 
December 31, 2016
Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
 
Derivative financial instruments
Fair value of derivatives
 
$
—

 
$
103

 
$
—

 
$
103

Liabilities
 
 
 
 
 
 
 
 
 
Derivative financial instruments
Fair value of derivatives
 
—

 
(18,296
)
 
—

 
(18,296
)
Total net liabilities
 
 
$
—

 
$
(18,193
)
 
$
—

 
$
(18,193
)