Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v2.4.0.8
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The Company’s financial assets and liabilities as of December 31 that are measured at fair value on a recurring basis were as follows (in thousands):
 
 
Level 1
 
Level 2
 
Level 3
2013
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
Derivative instruments (included in other current liabilities)
 
$
—

 
$
621

 
$
—

 
 
 
 
 
 
 
2012
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
Derivative instruments (included in other current liabilities)
 
$
—

 
$
1,025

 
$
—

Estimated Fair Value Of Other Financial Assets And Liabilities
The estimated fair value of the Company’s other financial assets and liabilities as of December 31 were as follows (in thousands):
 
 
 
 
Estimated Fair Value
2013
 
Carrying Amount
 
Level 1
 
Level 2
 
Level 3
ASSETS
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
31,335

 
$
31,335

 
$
—

 
$
—

Notes receivable from other business ventures (included in other
 receivables and other assets)
 
169

 
169

 
—

 
—

LIABILITIES
 
 
 
 
 
 
 
 
Long-term debt, including current portion
 
282,178

 
—

 
297,399

 
—

 
 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
11,505

 
$
11,505

 
$
—

 
$
—

Notes receivable from other business ventures (included in other
 receivables and other assets)
 
925

 
925

 
—

 
—

LIABILITIES
 
 
 
 
 
 
 
 
Long-term debt, including current portion
 
279,735

 
—

 
283,120

 
—

Fair Value, by Balance Sheet Grouping
The Company’s non-financial assets and liabilities that were measured at fair value during the years ended December 31 were as follows (in thousands):
 
 
Level 1
 
Level 2
 
Level 3
2013
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
Investment in Era do Brazil (2)
 
$
—

 
$
248

 
$
—

 
 
 
 
 
 
 
2012
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
Investment in Aeróleo (1)
 
$
—

 
$
—

 
$
—

Investment in Era do Brazil (2)
 
—

 
248

 
—

____________________
(1)
On March 1, 2012, the Company wrote-off its equity investment in its Aeróleo joint venture (see Note 5).
(2)
On September 30, 2012, the Company marked its equity investment in its Era do Brazil joint venture to fair value. As the primary beneficiary, the Company has consolidated Era do Brazil in its financial statements effective September 30, 2012 (see Note 5).