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Financial Instruments
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2014
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| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments Disclosure [Text Block] |
Financial Instruments
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 senior credit facility bears interest at LIBOR plus 1.1% based upon covenants related to total indebtedness to earnings. Using interest rate quotes and discounted cash flows, the Company estimated the fair value of its outstanding capital lease obligations as follows:
The Company's fair value calculations for the above financial instruments are classified within level 3 of the fair value hierarchy.
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