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Fair Values of Financial Instruments
9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments Fair Values of Financial Instruments

The following table presents the fair values of our financial instruments:
 
September 30, 2019
 
December 31, 2018
In thousands
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
140,938

 
$
140,938

 
$
120,221

 
$
120,221

Restricted cash
762

 
762

 
2,107

 
2,107

Foreign exchange options
493

 
493

 

 

Foreign exchange forwards
57

 
57

 
157

 
157

Interest rate swaps
346

 
346

 
2,612

 
2,612

Interest rate caps
43

 
43

 
786

 
786

Cross currency swaps
5,375

 
5,375

 
2,970

 
2,970

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Credit facility
 
 
 
 
 
 
 
USD denominated term loan
$
587,500

 
$
582,339

 
$
637,813

 
$
630,971

Multicurrency revolving line of credit

 

 

 

Senior notes
400,000

 
412,000

 
400,000

 
368,000

Foreign exchange forwards
100

 
100

 
337

 
337



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

Cash, cash equivalents, and restricted cash: 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 determined 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: Debt" for a further discussion of our debt.

Senior Notes: The Senior Notes are not registered securities nor listed on any securities exchange but may be actively traded by qualified institutional buyers. The fair value is estimated using Level 1 inputs, as it is based on quoted prices for these instruments in active markets.

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

The fair values at September 30, 2019 and December 31, 2018 do not reflect subsequent changes in the economy, interest rates, tax rates, and other variables that may affect the determination of fair value.