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Fair Value Measurements
 6 Months Ended
Jun. 30, 2012
Fair Value Measurements  
Fair Value Measurements

(18) Fair Value Measurements

 

The following table presents the Company’s fair value measurements of its financial assets and liabilities measured at fair value in the condensed consolidated balance sheets. Recognized gains and losses are recorded in other income, net in the condensed consolidated income statements. During the six months ended June 30, 2012, there were no transfers of financial assets or liabilities within the fair value hierarchy.

 

The financial assets and liabilities carried at fair value on a recurring basis at June 30, 2012 follow (in thousands):

 

Financial Instrument

 

Fair Value

 

Level 1

 

Level 2

 

Level 3

 

Marketable equity securities

 

$

17,396

 

$

17,396

 

$

—

 

$

—

 

Interest-rate swap liabilities(1) 

 

(12,903

)

—

 

(12,903

)

—

 

Warrants(1) 

 

1,385

 

—

 

—

 

1,385

 

 

 

$

5,878

 

$

17,396

 

$

(12,903

)

$

1,385

 

 

(1)          Interest rate swap and common stock warrant values are determined based on observable and unobservable market assumptions using standardized derivative pricing models.