Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize significant assets and liabilities measured at fair value in the condensed consolidated balance sheets on a recurring basis for each of the fair value levels (in thousands):

	Fair Value Measurement at Reporting Date Using
March 31, 2019	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	36,159	$	—	$	—	$	36,159
Other noncurrent assets
Restricted cash		5,825		—		—		5,825
Total assets	$	41,984	$	—	$	—	$	41,984
Other current liabilities
Interest rate cash flow hedge¹	$	—	$	2,530	$	—	$	2,530
Total liabilities	$	—	$	2,530	$	—	$	2,530

December 31, 2018
Cash equivalents
Money market funds	$	84,613	$	—	$	—	$	84,613
Other noncurrent assets
Restricted cash		5,825		—		—		5,825
Total assets	$	90,438	$	—	$	—	$	90,438
Other current liabilities
Interest rate cash flow hedge¹	$	—	$	1,098	$	—	$	1,098
Total liabilities	$	—	$	1,098	$	—	$	1,098

March 31, 2018
Cash equivalents
Money market funds	$	4,891	$	—	$	—	$	4,891
Other current assets
Interest rate cash flow hedge¹		—		2,165		—		2,165
Total assets	$	4,891	$	2,165	$	—	$	7,056

¹See our Annual Report on Form 10-K for the year ended December 31, 2018 for further information on our interest rate swaps.

Schedule of Carrying and Fair Value Amounts

The carrying values and estimated fair values of our financial instruments that are not required to be recorded at fair value in the condensed consolidated balance sheets were as follows:

		March 31, 2019				December 31, 2018				March 31, 2018
(in thousands)	Fair Value Hierarchy	Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Held-to-maturity marketable securities	Level 1	$	66,049	$	65,556	$	66,100	$	65,290	$	107,266	$	106,143
Liabilities (including current maturities):
2019 Notes¹	Level 3	$	40,000	$	41,207	$	40,000	$	40,484	$	80,000	$	83,086
Credit Agreement - term loan¹	Level 3		144,375		145,206		146,250		147,141		88,750		88,803
Credit Agreement - revolving credit facility¹	Level 3		197,000		197,406		197,000		197,889		55,000		54,858

¹See Note 14 for definitions of, and more information about, the 2019 Notes and Credit Agreement.