XML 34 R24.htm IDEA: XBRL DOCUMENT v3.4.0.3
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 27, 2016
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on recurring basis
The table below presents the balances of assets and liabilities measured at fair value as of March 27, 2016, December 31, 2015, and March 29, 2015 on a recurring basis as well as the fair values of other financial instruments:
(In thousands)
Condensed 
Consolidated
Fair Value
March 27, 2016
 
December 31, 2015
 
March 29, 2015
Balance Sheet Location
Hierarchy Level
Carrying Value
Fair 
Value
 
Carrying Value
Fair 
Value
 
Carrying Value
Fair 
Value
Financial assets (liabilities) measured on a recurring basis:
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements not designated as cash flow hedges
Current derivative liability
Level 2
—

—

 
—

—

 
(9,989
)
(9,989
)
Interest rate swap agreements not designated as cash flow hedges
Derivative Liability
Level 2
(27,855
)
(27,855
)
 
—

—

 
—

—

Interest rate swap agreements designated as cash flow hedges
Derivative Liability
Level 2
—

—

 
(22,918
)
(22,918
)
 
(19,252
)
(19,252
)
Other financial assets (liabilities):
 
 
 
 
 
 
 
 
 
 
Term debt
Long-Term Debt (1)
Level 2
(604,800
)
(604,800
)
 
(606,375
)
(605,806
)
 
(608,850
)
(610,372
)
March 2013 notes
Long-Term Debt (1)
Level 1
(500,000
)
(518,750
)
 
(500,000
)
(501,250
)
 
(500,000
)
(513,750
)
June 2014 notes
Long-Term Debt (1)
(2) 
(450,000
)
(464,625
)
 
(450,000
)
(451,125
)
 
(450,000
)
(460,125
)
(1)
Carrying values of Long-Term debt balances are before reductions for deferred financing fee amounts of $18.9 million, $19.7 million, and $23.0 million as of March 27, 2016, December 31, 2015, and March 29, 2015.
(2)
The June 2014 notes were based on Level 1 inputs as of both March 27, 2016 and December 31, 2015 and Level 2 inputs as of March 29, 2015.