XML 72 R64.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Total net liability $ 675,451
Level 1 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Total net liability 553,756
Level 2 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Total net liability 121,695 [1]
Level 3 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Total net liability   
Interest Rate Swaps [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets 290
Liabilities 766
Interest Rate Swaps [Member] | Level 1 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets   
Liabilities   
Interest Rate Swaps [Member] | Level 2 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets 290 [1]
Liabilities 766 [1]
Interest Rate Swaps [Member] | Level 3 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets   
Liabilities   
Fair Value Of Long Term Debt [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities 661,274 [2]
Fair Value Of Long Term Debt [Member] | Level 1 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities 553,756 [2]
Fair Value Of Long Term Debt [Member] | Level 2 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities 107,518 [1],[2]
Fair Value Of Long Term Debt [Member] | Level 3 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities    [2]
Foreign Currency Forwards [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities 13,701
Foreign Currency Forwards [Member] | Level 1 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities   
Foreign Currency Forwards [Member] | Level 2 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities 13,701 [1]
Foreign Currency Forwards [Member] | Level 3 [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Liabilities   
[1] Unless otherwise indicated, the fair value of our Level 2 derivative instruments reflects our best estimate and is based upon exchange or over-the-counter quotations whenever they are available. Quoted valuations may not be available due to location differences or terms that extend beyond the period for which quotations are available. Where quotes are not available, we utilize other valuation techniques or models to estimate market values. These modeling techniques require us to make estimations of future prices, price correlation and market volatility and liquidity based on market data. Our actual results may differ from our estimates, and these differences could be positive or negative. See Note 15 for further discussion on fair value of our derivative instruments.
[2] See Note 6 for additional information regarding our long-term debt. The value of our long-term debt is as follows (in thousands): June 30, 2014Carrying ValueFair Value (b)Term Loan (matures June 2018) $ 285,000$ 282,5062032 Notes (mature March 2032) (a) 200,000 271,250MARAD Debt (matures February 2027) 97,513 107,518Total debt$ 582,513$ 661,274(a) Carrying value excludes the related unamortized debt discount of $23.8 million at June 30, 2014.(b) The estimated fair value of all debt, other than the MARAD Debt, was determined using Level 1 inputs using the market approach. The fair value of the MARAD Debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the MARAD indebtedness as compared to other governmental obligations in the marketplace with similar terms. The fair value of the MARAD Debt was estimated using Level 2 fair value inputs using the market approach.