Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.10.0.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2018
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, 2018
 
December 31, 2017

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

 
$
—

 
$
25,000

 
$
—

6.125% Senior Notes (b)
 
595,552

 
607,500

 
595,196

 
618,000

6.375% Senior Notes (b)
 
392,907

 
400,000

 
—

 
—

Total
 
$
988,459

 
$
1,007,500

 
$
620,196

 
$
618,000


(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% and 6.375% 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, 2018
 
Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
 
 
Derivative financial instruments
 
Fair value of derivatives
 
$
—

 
$
13,868

 
$
—

 
$
13,868

Liabilities
 
 
 
 
 
 
 
 
 
 
Derivative financial instruments
 
Fair value of derivatives
 
—

 
(47,084
)
 
—

 
(47,084
)
Total net liabilities
 
 
 
$
—

 
$
(33,216
)
 
$
—

 
$
(33,216
)

 
 
 
 
 
 
 
 
 
 
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
)