Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Changes in Level 3 liabilities are as follows (in thousands):



	Year ended December 31,
	2013		2012
Balance, beginning of year	$	—	$	16,622
Fair value adjustments, net	—		(2,649		)
Reclassification to additional paid-in capital	—		(13,973		)
Net transfers in/(out)	—		—
Balance, end of year	$	—	$	—

Carrying value and estimated fair value of convertible notes and long-term debt

The carrying value and estimated fair value of the Company’s convertible notes and long-term debt are as follows (in thousands):



	December 31,
	2013				2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
2008 Notes (1)	$	—	$	—	$	5,133	$	5,163
Term loan	45,833		45,833		25,000		25,000
Borrowings under the revolving credit facility	16,272		16,272		—		—
Capital lease obligations	—		—		1,784		1,736


(1)	The carrying value of the 2008 Notes represents the discounted debt component only, while the fair value of the Notes is based on the market value of the respective notes, including convertible equity features.

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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