FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Measurements and Fair Value Hierarchy for Assets and Liabilities

Fair value measurements and the fair value hierarchy level for the Company’s assets and liabilities measured at fair value on a recurring basis, are shown below (in thousands):


	Frequency	Asset / (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
September 30, 2021
Commodity swap contracts	Recurring	21,914	—	21,914	—
Mutual funds	Recurring	7,608	7,608	—	—
Life-insurance contracts	Recurring	18,254	—	18,254	—
December 31, 2020
Commodity swap contracts	Recurring	13,384	—	13,384	—
Mutual funds	Recurring	5,331	5,331	—	—
Life-insurance contracts	Recurring	16,930	—	16,930	—

Financial Assets and Liabilities Accounted For at Fair Value on Recurring Basis

The Company’s carrying and estimated fair value of debt at September 30, 2021 and December 31, 2020 were as follows (in thousands):


	September 30, 2021								December 31, 2020
	Carrying Value		Fair Value						Carrying Value		Fair Value
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Instrument
Senior Notes due 2025	$	311,868	$	—	$	316,203	$	—	$	311,357	$	—	$	319,140	$	—

New Term Loan Credit Agreement	107,262		—		107,262		—		136,622		—		136,280		—
	$	419,130	$	—	$	423,465	$	—	$	447,979	$	—	$	455,420	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details