| Carrying value and estimated fair value of financial instruments |
The following tables present the carrying values of those financial instruments and the estimated corresponding fair values at March 31, 2014 and December 31, 2013 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | Estimated Fair Value Measurements at March 31, 2014 | | Carrying Value as of March 31, 2014 | | Total Fair Value | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | | | Cash and cash equivalents | $ | 38,063 |
| | $ | 38,063 |
| | $ | 38,063 |
| | $ | — |
| | $ | — |
| Restricted cash | 17,356 |
| | 17,356 |
| | 3,675 |
| | 13,681 |
| | — |
| Liabilities: | | | | | | | | | | Borrowings under senior credit facility | $ | 632,750 |
| | $ | 633,867 |
| | $ | — |
| | $ | 633,867 |
| | $ | — |
| 5⅞% Senior Notes | 250,000 |
| | 257,345 |
| | — |
| | 257,345 |
| | — |
| 6.625% Senior Notes | 300,000 |
| | 322,500 |
| | — |
| | 322,500 |
| | — |
| 5.125% Senior Notes | 300,000 |
| | 295,875 |
| | — |
| | 295,875 |
| | — |
| Non-recourse debt, Australian subsidiary | 23,389 |
| | 23,840 |
| | — |
| | 23,840 |
| | — |
| Other non-recourse debt, including current portion | 60,351 |
| | 62,691 |
| | — |
| | 62,691 |
| | — |
|
| | | | | | | | | | | | | | | | | | | | | | | | Estimated Fair Value Measurements at December 31, 2013 | | Carrying Value as of December 31, 2013 | | Total Fair Value | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | | | Cash and cash equivalents | $ | 52,125 |
| | $ | 52,125 |
| | $ | 52,125 |
| | $ | — |
| | $ | — |
| Restricted cash | 14,592 |
| | 14,592 |
| | 1,838 |
| | 12,754 |
| | — |
| Liabilities: | | | | | | | | | | Borrowings under senior credit facility | $ | 638,500 |
| | $ | 639,246 |
| | $ | — |
| | $ | 639,246 |
| | $ | — |
| 5⅞% Senior Notes | 250,000 |
| | 265,938 |
| | — |
| | 265,938 |
| | — |
| 6.625% Senior Notes | 300,000 |
| | 317,064 |
| | — |
| | 317,064 |
| | — |
| 5.125% Senior Notes | 300,000 |
| | 279,000 |
| | — |
| | 279,000 |
| | — |
| Non-recourse debt, Australian subsidiary | 23,896 |
| | 24,439 |
| | — |
| | 24,439 |
| | — |
| Other non-recourse debt, including current portion | 60,235 |
| | 62,319 |
| | — |
| | 62,319 |
| | — |
|
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