Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The estimated fair values of our financial instruments at December 31 were as follows (in thousands):

	2015				2014
	Carrying Value		Fair Value		Carrying Value		Fair Value
Cash and cash equivalents (a)	$	7,559	$	7,559	$	6,620	$	6,620
Long-term debt, including current maturities (b)	$	342,756	$	404,864	$	342,752	$	430,497

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(a) Fair value approximates carrying value due to either short-term length of maturity or variable interest rates that approximate prevailing market rates and therefore is classified in Level 1 in the fair value hierarchy.

(b) Long-term debt is valued using the market approach based on observable inputs of quoted market prices and yields available for debt instruments either directly or indirectly for similar maturities and debt ratings in active markets and therefore is classified in Level 2 in the fair value hierarchy. The carrying amount of our variable rate debt approximates fair value due to the variable interest rates with short reset periods. For additional information on our long-term debt see Note 4.