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Fair Value (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value.

Fair Value of Financial Instruments

The following tables set forth the fair value of our interest rate cap agreement, the contingently convertible Series E units liability and preferred shares derivative liability as of June 30, 2015, and December 31, 2014 (in thousands):

		June 30, 2015
Description		Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
Assets:
Interest rate cap agreement		$	—		$	1		$	—		$	1
Liabilities:
Contingently convertible Series E units liability		$	—		$	—		$	68,076		$	68,076
Preferred shares derivative liability		$	—		$	—		$	57,260		$	57,260

		December 31, 2014
Description		Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
Assets:
Interest rate cap agreement		$	—		$	14		$	—		$	14
Liabilities:
Contingently convertible Series E units liability		$	—		$	—		$	72,057		$	72,057
Preferred shares derivative liability		$	—		$	—		$	57,960		$	57,960

Changes in Fair Value of Level 3 Financial Instruments

The following table presents changes in the fair values of our Level 3 financial instruments, consisting of our contingently convertible series E units liability and preferred shares derivative liability, which are measured on a recurring basis with changes in fair value recognized in remeasurement of Series E units and remeasurement of preferred shares, respectively, in the condensed consolidated statements of operations for the six months ended June 30, 2015 and 2014 (in thousands):

Description		January 1, 2015			Issuances			Remeasurement included in earnings			June 30, 2015
Liabilities:
Contingently convertible Series E units liability		$	72,057		$	—		$	(3,981	)	$	68,076
Preferred shares derivative liability		$	57,960		$	—		$	(700	)	$	57,260

Description		January 1, 2014			Issuances			Remeasurement included in earnings			June 30, 2014
Liabilities:
Contingently convertible Series E units liability		$	66,938		$	—		$	7,700		$	74,638
Preferred shares derivative liability		$	28,150		$	26,922		$	598		$	55,670

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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



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-Name Accounting Standards Codification



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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 3



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258



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