Fair Value of Assets and Liabilities

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

Fair Value of Assets and Liabilities

The Company’s consolidated balance sheets reflect certain financial instruments at carrying value. The following table presents the carrying values of those instruments and the corresponding fair values (in thousands):

	Estimated Fair Value Measurements at December 31, 2012
	Carrying Value as of December 31, 2012		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	31,755	$	31,755	$	31,755	$	—	$	—
Restricted cash	34,949		34,949		34,949		—		—
Liabilities:
Borrowings under Senior Credit Facility	$	797,430	$	803,097	$	—	$	803,097	$	—
7¾% Senior Notes	247,543		270,313		—		270,313		—
6.625% Senior Notes	300,000		335,814		—		335,814		—
Non-recourse debt, Australian subsidiary	34,832		34,973		—		34,973		—
Other non-recourse debt, including current portion	88,650		91,345		—		91,345		—

	Estimated Fair Value Measurements at January 1, 2012
	Carrying Value as of January 1, 2012		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	43,377	$	43,377	$	43,377	$	—	$	—
Restricted cash	51,881		51,881		51,881		—		—
Liabilities:
Borrowings under Senior Credit Facility	$	782,962	$	785,917	$	—	$	785,917	$	—
7¾% Senior Notes	247,141		262,033		—		262,033		—
6.625% Senior Notes	300,000		300,375		—		300,375		—
Non-recourse debt, Australian subsidiary	40,345		41,347		—		41,347		—
Other non-recourse debt, including current portion	201,453		206,712		—		206,712		—

The fair values of the Company’s cash and cash equivalents, and restricted cash approximates the carrying values of these assets at December 31, 2012 and January 1, 2012 . Restricted cash consists of commercial paper used for payments on the Company’s non-recourse debt. The fair values of the Company’s 7¾% senior unsecured notes due 2017 (“7¾% Senior Notes”) and the 6.625% senior unsecured notes due 2021 (“6.625% Senior Notes”), although not actively traded, are based on published financial data for these instruments. The fair values of the Company’s non-recourse debt related to South Texas Local Development Corporation (“STLDC”) and Washington Economic Development Finance Authority (“WEDFA”) are based on market prices for similar instruments. The fair value of the non-recourse debt related to the Company’s Australian subsidiary is estimated using a discounted cash flow model based on current Australian borrowing rates for similar instruments. The fair value of borrowings under the Senior Credit Facility is based on an estimate of trading value considering the Company’s borrowing rate, the undrawn spread and similar instruments.