Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Measurements [Abstract]

Financial Assets and Liabilities Measured on a Recurring Basis at Fair Value

The following table summarizes our financial assets and liabilities measured on a recurring basis at fair value at March 31, 2020 and December 31, 2019 by respective level of the fair value hierarchy (in thousands):

	Level 1		Level 2		Level 3		Total
December 31, 2019
Assets:
Fuel hedge	$	—	$	—	$	25	$	25
Marketable securities - restricted		2,296		—		—		2,296
	$	2,296	$	—	$	25	$	2,321
Liabilities:
Interest rate swaps	$	—	$	—	$	3,825	$	3,825
March 31, 2020
Liabilities:
Fuel hedge		—		—		1,286		1,286
Interest rate swaps		—		—		6,418		6,418
	$	—	$	—	$	7,704	$	7,704

Changes in Fair Value of Interest Rate Swaps

The table below highlights the change in fair value of the fuel hedges and interest rate swaps which are based on a discounted future cash flow model (in thousands):

Ending balance, December 31, 2019	$	(3,800)
Change in estimated fair value		(3,904)
Ending balance, March 31, 2020*	$	(7,704)

*Recorded in accounts payable and accrued liabilities and other liabilities in the Balance Sheet to these Condensed Consolidated Financial Statements