Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.7.0.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Summary 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.

June 30, 2017
 
December 31, 2016

Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Credit Facility (a)
$
—

 
$
—

 
$
—

 
$
—

6.125% Senior Notes (b)
595,138

 
610,500

 
390,219

 
412,000

Total
$
595,138

 
$
610,500

 
$
390,219

 
$
412,000


໿
(a)
Floating-rate debt.
(b)
The fair value was based upon Level 2 inputs. See Note 4 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:
June 30, 2017
Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
 
Derivative financial instruments
Fair value of derivatives
 
$
—

 
$
13,045

 
$
—

 
$
13,045

Liabilities
 
 
 
 
 
 
 
 
 
Derivative financial instruments
Fair value of derivatives
 
—

 
(2,684
)
 
—

 
(2,684
)
Total net liabilities
 
 
$
—

 
$
10,361

 
$
—

 
$
10,361


 
 
 
 
 
 
 
 
 
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
)