Fair Values of Financial Instruments (Text Block)

9 Months Ended

Sep. 30, 2016

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]

Fair Values of Financial Instruments [Text Block]

Fair Values of Financial Instruments

The fair values at September 30, 2016 and December 31, 2015 do not reflect subsequent changes in the economy, interest rates, and other variables that may affect the determination of fair value. The following table presents the fair values of our financial instruments:

	September 30, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
			(in thousands)
Assets
Cash and cash equivalents	$	151,380	$	151,380	$	131,018	$	131,018
Foreign exchange forwards	119		119		27		27
Interest rate swaps	—		—		1,632		1,632
Interest rate caps	300		300		1,423		1,423
Liabilities
Credit facility
USD denominated term loan	$	210,938	$	209,317	$	219,375	$	217,830
Multicurrency revolving line of credit	132,597		131,387		151,837		150,570
Interest rate swaps	3,308		3,308		868		868
Foreign exchange forwards	294		294		99		99

The following methods and assumptions were used in estimating fair values:

Cash and cash equivalents: Due to the liquid nature of these instruments, the carrying amount approximates fair value (Level 1).

Credit facility - term loan and multicurrency revolving line of credit: The term loan and revolver are not traded publicly. The fair values, which are valued based upon a hypothetical market participant, are calculated using a discounted cash flow model with Level 2 inputs, including estimates of incremental borrowing rates for debt with similar terms, maturities, and credit profiles. Refer to Note 6 for a further discussion of our debt.

Derivatives: See Note 7 for a description of our methods and assumptions in determining the fair value of our derivatives, which were determined using Level 2 inputs.