Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

Fair Value [Abstract]

Fair Value of Financial Instruments

9.FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s financial instruments consist primarily of cash and equivalents, trade receivables, restricted assets, trade payables, debt instruments, contingent consideration obligations, interest rate swaps and a fuel hedge.  As of June 30, 2014 and December 31, 2013, the carrying values of cash and equivalents, trade receivables, restricted assets, trade payables and contingent consideration are considered to be representative of their respective fair values.  The carrying values of the Company’s debt instruments, excluding certain notes as listed in the table below, approximate their fair values as of June 30, 2014 and December 31, 2013, based on current borrowing rates, current remaining average life to maturity and borrower credit quality for similar types of borrowing arrangements, and are classified as Level 2 within the fair value hierarchy.  The carrying values and fair values of the Company’s debt instruments where the carrying values do not approximate their fair values as of June 30, 2014 and December 31, 2013, are as follows: 

	Carrying Value at				Fair Value* at
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
6.22% Senior Notes due 2015	$	175,000	$	175,000	$	185,802	$	187,206
3.30% Senior Notes due 2016	$	100,000	$	100,000	$	103,177	$	102,066
4.00% Senior Notes due 2018	$	50,000	$	50,000	$	52,937	$	50,992
5.25% Senior Notes due 2019	$	175,000	$	175,000	$	194,147	$	185,037
4.64% Senior Notes due 2021	$	100,000	$	100,000	$	107,694	$	100,341

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*Senior Notes are classified as Level 2 within the fair value hierarchy.  Fair value is based on quotes of bonds with similar ratings in similar industries.

For details on the fair value of the Company’s interest rate swaps, fuel hedge and restricted assets, refer to Note 11.