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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value, by Balance Sheet Grouping
The following table presents the carrying amount and estimated fair values of financial instruments held by the Company at March 31, 2017 and December 31, 2016, using market information and what the Company believes to be appropriate valuation methodologies under GAAP:
 
March 31, 2017
 
December 31, 2016
Asset (Liability) (a)
Carrying
Amount
 
Fair Value
 
Carrying
Amount
 
Fair Value
 
 
 
Level 1
 
Level 2
 
 
 
Level 1
 
Level 2
Cash and cash equivalents

$219,357

 

$219,357

 
—

 

$85,909

 

$85,909

 
—

Restricted cash (b)
111,276

 
111,276

 
—

 
71,708

 
71,708

 
—

Current maturities of long-term debt
(42,926
)
 
—

 
(43,250
)
 
(31,676
)
 
—

 
(31,984
)
Long-term debt (c)
(1,028,068
)
 
—

 
(1,031,648
)
 
(1,030,205
)
 
—

 
(1,030,708
)
Interest rate swaps (d)
13,858

 
—

 
13,858

 
11,225

 
—

 
11,225

Foreign currency exchange contracts (d)
723

 
—

 
723

 
464

 
—

 
464

Foreign currency option contracts (d)
350

 
—

 
350

 
391

 
—

 
391


 
 
 
 
 
(a)
The Company did not have Level 3 assets or liabilities at March 31, 2017.
(b)
Restricted cash represent the proceeds from like-kind exchange sales deposited with a third-party intermediary and cash held in escrow for a real estate sale. See Note 16 — Restricted Cash for additional information.
(c)
The carrying amount of long-term debt is presented net of capitalized debt costs on non-revolving debt.
(d)
See Note 11 — Derivative Financial Instruments and Hedging Activities for information regarding the Balance Sheet classification of the Company’s derivative financial instruments.