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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements

The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of June 30, 2016 and December 31, 2015 are presented in the table below (amounts in thousands) and have been calculated based upon market quotes and present value calculations based on market rates.

 

 

 

June 30, 2016

 

 

 

Carrying

Amount

 

 

Fair

Value

 

Manufacturer flooring plans payable with interest computed

   at 5.00% (Level 3)

 

$

45,967

 

 

$

40,281

 

Senior unsecured notes with interest computed

   at 7.0% (Level 1)

 

 

627,508

 

 

 

648,900

 

Capital leases payable with interest computed

   at 5.929% to 9.55% (Level 3)

 

 

1,807

 

 

 

1,225

 

Letter of credit (Level 3)

 

 

 

 

 

155

 

 

 

 

December 31, 2015

 

 

 

Carrying

Amount

 

 

Fair

Value

 

Manufacturer flooring plans payable with interest computed

   at 5.00% (Level 3)

 

$

62,433

 

 

$

54,710

 

Senior unsecured notes with interest computed

   at 7.0% (Level 1)

 

 

627,306

 

 

 

617,400

 

Capital leases payable with interest computed

   at 5.929% to 9.55% (Level 3)

 

 

1,907

 

 

 

1,329

 

Letter of credit (Level 3)

 

 

 

 

 

145