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Fair Values of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts, including fair value adjustments previously recognized in acquisition purchase accounting and a fair value adjustment related to the Company’s interest rate swap fair value hedge (which is classified as Level 2 in the fair value hierarchy), and fair values of the financial instruments are as follows:

 

 

 

Carrying

 

 

At Fair Value as of December 31, 2014

 

 

 

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Preferred stock with mandatory redemption

     requirements

 

$

17,151

 

 

$               —

 

 

$               —

 

 

$

22,167

 

 

$

22,167

 

Long-term debt (excluding capital lease

     obligations)

 

 

5,491,341

 

 

 

2,874,622

 

 

 

1,474,708

 

 

 

2,055,058

 

 

 

6,404,388

 

 

 

 

Carrying

 

 

At Fair Value as of December 31, 2013

 

 

 

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Preferred stock with mandatory redemption

     requirements

 

$

18,827

 

 

$               —

 

 

$               —

 

 

$

22,795

 

 

$

22,795

 

Long-term debt (excluding capital lease

     obligations)

 

 

5,224,492

 

 

 

2,263,355

 

 

 

1,462,404

 

 

 

2,057,506

 

 

 

5,783,265

 

 

Fair Value Measurements of Assets and Liabilities on Recurring Basis

Recurring Fair Value Measurements

The following table presents assets and liabilities measured and recorded at fair value on a recurring basis and their level within the fair value hierarchy as of December 31, 2014 and 2013, respectively:

  

Recurring Fair Value Measures

 

 

 

At Fair Value as of December 31, 2014

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted funds

 

 

 

$

45,182

 

 

$                —

 

 

$                —

 

$

45,182

 

Rabbi trust investments

 

 

 

 

 

 

11,751

 

 

 

 

11,751

 

Deposits

 

 

 

 

4,158

 

 

 

 

 

 

4,158

 

Mark-to-market derivative asset

 

 

 

 

 

 

3,636

 

 

 

 

3,636

 

     Total assets

 

 

 

 

49,340

 

 

 

15,387

 

 

 

 

64,727

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation obligation

 

 

 

 

 

 

11,765

 

 

 

 

11,765

 

Mark-to-market derivative liability

 

 

 

 

 

 

1,012

 

 

 

 

1,012

 

     Total liabilities

 

 

 

 

 

 

12,777

 

 

 

 

12,777

 

Total net assets

 

 

 

$

49,340

 

 

$

2,610

 

 

$                —

 

$

51,950

 

 

Recurring Fair Value Measures

 

 

 

At Fair Value as of December 31, 2013

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted funds

 

 

 

$

29,259

 

 

$                —

 

 

$                —

 

$

29,259

 

Rabbi trust investments

 

 

 

 

 

 

444

 

 

 

 

444

 

Deposits

 

 

 

 

1,901

 

 

 

 

 

 

1,901

 

Mark-to-market derivative asset

 

 

 

 

 

 

4,776

 

 

 

 

4,776

 

     Total assets

 

 

 

 

31,160

 

 

 

5,220

 

 

 

 

36,380

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation obligation

 

 

 

 

 

 

11,928

 

 

 

 

11,928

 

Mark-to-market derivative liability

 

 

 

 

 

 

1,276

 

 

 

 

1,276

 

     Total liabilities

 

 

 

 

 

 

13,204

 

 

 

 

13,204

 

Total net assets (liabilities)

 

 

 

$

31,160

 

 

$

(7,984

)

 

$                —

 

$

23,176