Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Notes)

v2.4.0.8
Financial Instruments (Notes)
12 Months Ended
Dec. 31, 2013
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]  
Financial Instruments Disclosure [Text Block]
Financial Instruments

Off Balance Sheet Risk

At December 31, 2013, the Company had letters of credit outstanding totaling $9,374.

Fair Value of Financial Instruments

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

Accounts receivable and accounts payable: The carrying amounts reported in the balance sheet for accounts receivable and accounts payable approximate their fair value based on their short-term nature.

The Company’s credit facility bears interest at LIBOR plus 1.1% based upon covenants related to total indebtedness to earnings.  Using interest rate quotes currently available in the market and remaining cash flows on these arrangements, the Company estimated the fair value of its outstanding capital lease obligations as follows:
 
December 31,
2013
 
December 31,
2012
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Capital lease obligations
$
72

 
$
99

 
$
334

 
$
387



The Company's fair value calculations for the above financial instruments are classified within level 3 of the fair value hierarchy as defined in the FASB Codification.