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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2019
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 June 30, 2019 and December 31, 2018, using market information and what the Company believes to be appropriate valuation methodologies under GAAP:
 
 
June 30, 2019
 
December 31, 2018
Asset (Liability) (a)
 
Carrying
Amount
 
Fair Value
 
Carrying
Amount
 
Fair Value
 
Level 1
 
Level 2
 
 
Level 1
 
Level 2
Cash and cash equivalents
 

$130,956

 

$130,956

 
—

 

$148,374

 

$148,374

 
—

Restricted cash (b)
 
3,754

 
3,754

 
—

 
8,080

 
8,080

 
—

Long-term debt (c)
 
(972,848
)
 
—

 
(981,500
)
 
(972,567
)
 
—

 
(975,845
)
Interest rate swaps (d)
 
(7,097
)
 
—

 
(7,097
)
 
23,735

 
—

 
23,735

Foreign currency exchange contracts (d)
 
(670
)
 
—

 
(670
)
 
(1,442
)
 
—

 
(1,442
)
Foreign currency option contracts (d)
 
116

 
—

 
116

 
145

 
—

 
145

Carbon option contracts (d)
 
(2
)
 
—

 
(2
)
 
(322
)
 
—

 
(322
)

 
 
 
 
 
(a)
The Company did not have Level 3 assets or liabilities at June 30, 2019 and December 31, 2018.
(b)
Restricted cash represents 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 18 — Restricted Cash for additional information.
(c)
The carrying amount of long-term debt is presented net of capitalized debt costs on non-revolving debt. See Note 6 — Debt for additional information.
(d)
See Note 13 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of the Company’s derivative financial instruments.