Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments

v3.10.0.1
Financial Instruments
6 Months Ended
Jun. 30, 2018
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]  
Financial Instruments
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 revolving credit facility bears variable interest rates plus additional basis points based upon covenants related to total indebtedness to earnings.  As the revolving credit facility bears a variable interest rate, the carrying value approximates fair value. Using interest rate quotes and discounted cash flows, the Company estimated the fair value of its outstanding capital lease obligations as follows:
 
 
 
June 30, 2018
 
 
Carrying Value
 
Fair Value
Capital leases
 
$
544

 
$
565



The Company's fair value estimates for the above financial instruments are classified within level 3 of the fair value hierarchy.