Fair Value Fair Value (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

As of September 30, 2013, interest rate swap agreements are carried at their fair value and measured on a recurring basis as follows (in thousands):

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Long-term interest rate swap liability (a)	$	—	$	908	$	—

(a) The fair value is determined using valuation models which rely on the expected LIBOR based yield curve and estimates of counterparty and the Company’s non-performance risk.  Because each of these inputs are directly observable or can be corroborated by observable market data, we have categorized these interest rate swaps as Level 2 within the fair value hierarchy.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Long-term debt is not carried at fair value, but measured on a recurring basis. The estimated fair values of the Company's long-term debt as of September 30, 2013 and December 31, 2012 are as follows (in thousands):

	September 30, 2013				December 31, 2012
	Carrying Amount		Fair Value (a)		Carrying Amount		Fair Value (a)
New Term Loan, due 2019 (b)	$	619,030	$	638,392	$	—	$	—
Notes, 8.75%, due 2019	300,000		301,500		—		—
Old Term Loan, repaid February 2013	—		—		957,000		929,500

(a) The Company estimated fair value based on market prices of the Company's debt securities at the balance sheet date, which falls within Level 2 of the fair value hierarchy.

(b) The carrying amount of the New Term Loan is net of the discount of $17.8 million.