Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Assets and Liabilities Recorded at Fair Value
Assets and liabilities recorded at fair value in the accompanying consolidated balance sheets as of December 31, 2019 and 2018 are as follows:
 
Fair Value Based on
Significant Other Observable
Inputs (Level 2)
  December 31, 2019 December 31, 2018
  (In thousands)
Assets:    
Cash surrender value of life insurance policies (1) $ 32,799    $ 31,395   
Cash flow swaps and interest rate caps designated as hedges (2) 97    4,839   
Total assets $ 32,896    $ 36,234   
Liabilities:
Deferred compensation plan (3) $ 17,890    $ 19,848   
Total liabilities $ 17,890    $ 19,848   
(1) Included in other assets in the accompanying consolidated balance sheets.
(2) As of December 31, 2019, approximately $0.1 million was included in other assets in the accompanying consolidated balance sheets. As of December 31, 2018, approximately $1.8 million and $3.0 million were included in other current assets and other assets, respectively, in the accompanying consolidated balance sheets.
(3) Included in other long-term liabilities in the accompanying consolidated balance sheets.
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
The carrying value of assets and liabilities measured at fair value on a non-recurring basis but not completely adjusted to fair value in the accompanying consolidated balance sheet as of December 31, 2019, are included in the table below. Certain components of long-lived assets held and used have been adjusted to fair value through impairment charges as discussed in Note 4, “Property and Equipment,” and Note 5, “Intangible Assets and Goodwill.”
Significant
Unobservable
Inputs
(Level 3) as of
December 31, 2019		 Total Gains /
(Losses) for the
Year Ended
December 31, 2019 (2)
(In thousands)
Long-lived assets held and used (1) $ 7,286    $ (1,345)  
Assets held for sale (1) $ 23,030    $ (17,741)  
(1) See Note 1, “Description of Business and Summary of Significant Accounting Policies,” and Note 4, “Property and Equipment.” The fair values less costs to sell of long-lived assets or disposal groups held for sale are assessed each reporting period they remain classified as held for sale. Subsequent changes in the held for sale long-lived asset’s or disposal group’s fair value less cost to sell (increase or decrease) are reported as an adjustment to its carrying amount, except that the adjusted carrying amount cannot exceed the carrying amount of the long-lived asset or disposal group at the time it was initially classified as held for sale.
(2) Excludes impairment loss of approximately $1.7 million related to long lived assets that were disposed during the year ended December 31, 2019.
Fair Value and Carrying Value of Fixed Rate Long-Term Debt
The fair value and carrying value of our fixed rate long-term debt were as follows:
  December 31, 2019 December 31, 2018
  Fair Value Carrying Value Fair Value Carrying Value
  (In thousands)
5.0% Notes (1) $ —    $ —    $ 262,515    $ 289,273   
6.125% Notes (1) $ 261,250    $ 250,000    $ 216,250    $ 250,000   
Mortgage Notes (2) $ 195,962    $ 194,535    $ 218,402    $ 215,196   
Other (2) $ —    $ —    $ 20,437    $ 20,588   
(1) As determined by market quotations as of December 31, 2019 and 2018, respectively (Level 1).
(2) As determined by DCF (Level 3).