Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v2.4.1.9
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Measurement of Assets and Liabilities at Fair Value on Recurring Basis

The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis during the period, by level, within the fair value hierarchy:

 

     As of December 31, 2014  
     Level 1      Level 2      Level 3      Total  

Trading securities

   $ 2,244       $ —         $ —         $ 2,244   

Interest rate swaps

     —           (935      —           (935

Foreign exchange forward contracts

     —           1,247         —           1,247   
     As of December 31, 2013  
     Level 1      Level 2      Level 3      Total  

Trading securities

   $ 4,386       $ —         $ —         $ 4,386   

Interest rate caps

     —           53         —           53   

Foreign exchange forward contracts

     —           (42      —           (42
Fair Value of Company's Fixed Rate Senior Notes and Junior Subordinated Debentures

The fair value of the Company’s fixed rate senior notes and junior subordinated debentures as of December 31, 2014 and 2013 were determined by utilizing current trading prices obtained from indicative market data. As a result, the fair value measurement of the Company’s senior term loans is considered to be Level 2.

 

     December 31, 2014      December 31, 2013  
     Carrying
Amount
     Estimated
Fair Value
     Carrying
Amount
     Estimated
Fair Value
 

6.375% Senior Notes

   $ 330,000       $ 315,563       $ —         $ —     

10.875% Senior Notes

     —           —           271,750         285,538   

Junior Subordinated Debentures

     130,685         137,764         114,941         131,480