Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of Assets and Liabilities Measured at Fair Value

The following table presents the Company’s estimated fair value measurements and related classifications as of March 31, 2016:

	Quoted Prices in
	Active Markets		Significant
	for Identical		Other		Significant
	Assets and		Observable		Unobservable		Balance at
	Liabilities		Inputs		Inputs		March 31,
	(Level 1)		(Level 2)		(Level 3)		2016
Liabilities:
Derivative financial instruments ^(a)	$	—	$	37,366	$	—	$	37,366
Long-term obligations ^(b)	$	—	$	1,657,075	$	—	$	1,657,075

(a)	Reflected at fair value in the unaudited condensed consolidated balance sheet as other liabilities of $37,366.

(b)	Reflected at carrying value, net of unamortized debt issuance costs and discounts, in the unaudited condensed consolidated balance sheet as current maturities on long-term debt of $91,850 and long-term debt of $1,546,016 as of March 31, 2016.

There were no transfers between Levels 1, 2 or 3 during the year ended December 31, 2015. The Company did not have any assets measured at fair value as of December 31, 2015. The following table presents the Company’s estimated fair value measurements and related classifications as of December 31, 2015:

	Quoted Prices in
	Active Markets		Significant
	for Identical		Other		Significant
	Assets and		Observable		Unobservable		Balance at
	Liabilities		Inputs		Inputs		December 31,
	(Level 1)		(Level 2)		(Level 3)		2015
Liabilities:
Derivative financial instruments ^(a)	$	—	$	19,600	$	—	$	19,600
Long-term obligations ^(b)	$	—	$	1,601,287	$	—	$	1,601,287

(a)	Reflected at fair value in the unaudited condensed consolidated balance sheet as other liabilities of $19,600.

(b)	Reflected at carrying value, net of unamortized debt issuance costs and discounts, in the unaudited condensed consolidated balance sheet as current maturities on long-term debt of $31,850 and long-term debt of $1,548,893 as of December 31, 2015.