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FAIR VALUE OF FINANCIAL INSTRUMENTS
3 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS

(O) FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Notes at June 30, 2014 is as follows:

 

     Fair Value  
     (dollars in thousands)  

Series 2005A Tranche B

   $ 59,298   

Series 2005A Tranche C

     61,019   

Series 2007A Tranche A

     9,590   

Series 2007A Tranche B

     8,594   

Series 2007A Tranche C

     26,190   

Series 2007A Tranche D

     40,497   

The estimated fair value of our long-term debt was based on quoted prices of similar debt instruments with similar terms that are publicly traded (level 2 input). The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and accrued liabilities approximate their fair values due to the short-term maturities of these assets and liabilities. The fair value of our Credit Facility also approximates its carrying value at June 30, 2014.