Fair Value Fair Value (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

As of March 31, 2014, 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)	$	—	$	1,502	$	—

(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 March 31, 2014 and December 31, 2013 are as follows (in thousands):

	March 31, 2014				December 31, 2013
	Carrying Amount		Fair Value (a)		Carrying Amount		Fair Value (a)
New Term Loan, due 2019 (b)	$	617,215	$	652,608	$	618,122	$	655,844
Notes, 8.75%, due 2019	300,000		320,250		300,000		318,000
Total	$	917,215	$	972,858	$	918,122	$	973,844

(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 unamortized discount of $16.4 million and $17.1 million as of March 31, 2014 and December 31, 2013, respectively.