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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value of Financial Instruments [Abstract]  
Assets and Liabilities Measured At Fair Value on Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2015 and 2014, were as follows: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement at December 31, 2015 Using

 

 

Total

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

Significant Other Observable Inputs
(Level 2)

 

Significant Unobservable Inputs
(Level 3)

Interest rate swap derivative instruments – net liability position

 

$

 (9,745)

 

$

-

 

$

 (9,745)

 

$

-

Fuel hedge derivative instruments –net liability position

 

$

 (9,900)

 

$

-

 

$

-

 

$

 (9,900)

Restricted assets

 

$

 46,148 

 

$

-

 

$

 46,148 

 

$

-

Contingent consideration

 

$

 (49,394)

 

$

-

 

$

-

 

$

 (49,394)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement at December 31, 2014 Using

 

 

Total

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

Significant Other Observable Inputs
(Level 2)

 

Significant Unobservable Inputs
(Level 3)

Interest rate swap derivative instruments – net liability position

 

$

 (7,094)

 

$

-

 

$

 (7,094)

 

$

-

Fuel hedge derivative instruments – net asset position

 

$

 (1,979)

 

$

-

 

$

-

 

$

 (1,979)

Restricted assets

 

$

 40,870 

 

$

-

 

$

 40,870 

 

$

-

Contingent consideration

 

$

 (70,165)

 

$

-

 

$

-

 

$

 (70,165)

 

Change in Fair Value for Level 3 Derivatives

The following table summarizes the changes in the fair value for Level 3 derivatives for the years ended December 31, 2015 and 2014:

 

 

 

 

 

 

 

Years Ended December 31,

 

 

2015

 

 

2014

Beginning balance

$

 (1,979)

 

$

 2,199 

Realized losses (gains) included in earnings

 

 3,217 

 

 

 (823)

Unrealized losses included in AOCL

 

 (11,138)

 

 

 (3,355)

Ending balance

$

 (9,900)

 

$

 (1,979)

 

 

 

 

 

 

 

Changes in the Fair Value for Level 3 Liabilities Related to Contingent Consideration

The following table summarizes the changes in the fair value for Level 3 liabilities related to contingent consideration for the years ended December 31, 2015 and 2014: 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

2015

 

 

2014

Beginning balance

$

 70,165 

 

$

 55,550 

Contingent consideration recorded at acquisition date

 

 815 

 

 

 42,538 

Payment of contingent consideration recorded at acquisition date

 

 (2,190)

 

 

 (24,847)

Payment of contingent consideration recorded in earnings

 

-

 

 

 (1,074)

Adjustments to contingent consideration

 

 (22,180)

 

 

 (3,450)

Interest accretion expense

 

 2,784 

 

 

 1,448 

Ending balance

$

 49,394 

 

$

 70,165