Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Summary of Items Measured at Fair Value

The following table categorizes items measured at fair value at September 30, 2018:

			Fair Value Measurement at Reporting Date Using
September 30, 2018	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(Dollars in thousands)
Assets
Certificates of deposit	$	750	$	—	$	750	$	—
Cash surrender value		7,965		—		7,965		—
Derivative contracts		10,085		—		10,085		—
Total	$	18,800	$	—	$	18,800	$	—
Liabilities
Derivative contracts	$	9,636	$	—	$	9,636	$	—
Embedded derivative liability		8,161		—		—		8,161
Total	$	17,797	$	—	$	9,636	$	8,161

The following table categorizes items measured at fair value at December 31, 2017:

			Fair Value Measurement at Reporting Date Using
December 31, 2017	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(Dollars in thousands)
Assets
Certificates of deposit	$	750	$	—	$	750	$	—
Cash surrender value		8,040		—		8,040		—
Derivative contracts		6,342		—		6,342		—
Total	$	15,132	$	—	$	15,132	$	—
Liabilities
Derivative contracts	$	16,106	$	—	$	16,106	$	—
Embedded derivative liability		4,685		—		—		4,685
Total	$	20,791	$	—	$	16,106	$	4,685

Summary of Changes in Level 3 Fair Value Measurement of Embedded Derivative Liability

The following table summarizes the changes during the first nine months of 2018 in level 3 fair value measurement of the embedded derivative liability relating to the redeemable preferred shares issued in connection with the acquisition of our European operations:

Nine Months Ended September 30, 2018
(Dollars in thousands)
Beginning fair value—January 1, 2017	$	—
Change in fair value of redeemable preferred stock embedded derivative liability		4,685
Fair value – December 31, 2017		4,685
Change in fair value of redeemable preferred stock embedded derivative liability		3,476
Ending fair value at September 30, 2018	$	8,161

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The estimated fair value, as well as the carrying value, of the company’s debt instruments are shown below (in thousands):

	September 30, 2018		December 31, 2017
(Dollars in thousands)
Estimated aggregate fair value	$	715,918	$	704,005
Aggregate carrying value (1)		711,275		707,864

(1) Long-term debt excluding the impact of unamortized debt issuance costs.