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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value of Assets and Liabilities Measured on Recurring Basis

The Company measures certain financial assets and liabilities, including derivative instruments, at fair value on a recurring basis. The fair value measurements of these derivative instruments were determined using the following inputs as of December 31, 2012 and September 30, 2013:

		As of December 31, 2012
		Fair Value Measurements at Reporting Date Using
						Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant  Other Unobservable Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
Assets
Derivative Instruments (Note a)		$	10,645			$	—			$	10,645			$	—
Total		$	10,645			$	—			$	10,645			$	—
Liabilities
Derivative Instruments (Note b)		$	174,076			$	—			$	174,076			$	—
Total		$	174,076			$	—			$	174,076			$	—

		As of September 30, 2013
		Fair Value Measurements at Reporting Date Using
						Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Other Unobservable Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
Assets
Derivative Instruments (Note a)		$	6,768			$	—			$	6,768			$	—
Total		$	6,768			$	—			$	6,768			$	—
Liabilities
Derivative Instruments (Note b)		$	277,459			$	—			$	277,459			$	—
Total		$	277,459			$	—			$	277,459			$	—

(a) Included in prepaid expenses and other current assets and other assets in the consolidated balance sheets.

(b) Included in accrued expenses and other current liabilities and other liabilities in the consolidated balance sheets.

Reconciliation of Loans Held for Sale Measured at Fair Value Using Significant Unobservable Inputs

The following table sets forth the reconciliation of loans held for sale that were outstanding as of September 30, 2012 but settled during the year ended December 31, 2012, which were measured at fair value using significant unobservable inputs:

		Three months ended September 30, 2012				Nine months ended September 30, 2012
Opening balance, net		$	360			$	469
Impact of fair value included in earnings			—				(108	)
Settlements			—				(1	)
Closing balance, net		$	360			$	360

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset.

+ 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=25499696&loc=d3e19279-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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).

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258

+ Details

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