XML 40 R32.htm IDEA: XBRL DOCUMENT v3.3.0.814

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

Balances Measured at Fair Value

The following tables show the fair values of certain of our financial instruments:

	September 30, 2015
(In thousands)	Balance				Level 1				Level 2				Level 3
Assets
Cash and cash equivalents	$	125,045			$	125,045			$	—			$	—
Restricted cash	24,734				24,734				—				—
Investment available for sale	17,949				—				—				17,949
Liabilities
Contingent payments	$	3,587			$	—			$	—			$	3,587

	December 31, 2014
(In thousands)	Balance				Level 1				Level 2				Level 3
Assets
Cash and cash equivalents	$	145,341			$	145,341			$	—			$	—
Restricted cash	18,107				18,107				—				—
Investment available for sale	18,357				—				—				18,357
Liabilities
Merger earnout	$	75			$	—			$	—			$	75
Contingent payments	3,792				—				—				3,792

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities:

	Three Months Ended
	September 30, 2015
	Assets				Liability
(In thousands)	Investment Available for Sale				Contingent Payments
Balance at July 1, 2015	$	17,276			$	(3,642	)
Total gains (losses) (realized or unrealized):
Included in earnings	31				(156		)
Included in other comprehensive income (loss)	642				—
Transfers in or out of Level 3	—				—
Purchases, sales, issuances and settlements:
Settlements	—				211
Balance at September 30, 2015	$	17,949			$	(3,587	)
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date:
Included in interest income	$	31			$	—
Included in interest expense	—				(156		)

	Three Months Ended September 30, 2014
	Assets				Liabilities
(In thousands)	Investment Available for Sale				Merger Earnout				Contingent Payments
Balance at July 1, 2014	$	17,443			$	(450	)		$	(4,278	)
Total gains (losses) (realized or unrealized):
Included in earnings	29				225				(181		)
Included in other comprehensive income (loss)	681				—				—
Transfers in or out of Level 3	—				—				—
Purchases, sales, issuances and settlements:
Settlements	—				—				201
Balance at September 30, 2014	$	18,153			$	(225	)		$	(4,258	)
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date:
Included in interest income	$	29			$	—			$	—
Included in interest expense	—				—				(181		)

	Nine Months Ended September 30, 2015
	Assets				Liabilities
(In thousands)	Investment Available for Sale				Merger Earnout				Contingent Payments
Balance at January 1, 2015	$	18,357			$	(75	)		$	(3,792	)
Total gains (losses) (realized or unrealized):
Included in earnings	93				75				(476		)
Included in other comprehensive income (loss)	(121		)		—				—
Transfers in or out of Level 3	—				—				—
Purchases, sales, issuances and settlements:
Settlements	(380		)		—				681
Balance at September 30, 2015	$	17,949			$	—			$	(3,587	)
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date:
Included in interest income	$	93			$	—			$	—
Included in interest expense	—				—				(476		)

	Nine Months Ended September 30, 2014
	Assets				Liabilities
(In thousands)	Investment Available for Sale				Merger Earnout				Contingent Payments
Balance at January 1, 2014	$	17,128			$	(1,125	)		$	(4,343	)
Total gains (losses) (realized or unrealized):
Included in earnings	89				900				(549		)
Included in other comprehensive income (loss)	1,291				—				—
Transfers in or out of Level 3	—				—				—
Purchases, sales, issuances and settlements:
Settlements	(355		)		—				634
Balance at September 30, 2014	$	18,153			$	(225	)		$	(4,258	)
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date:
Included in interest income	$	89			$	—			$	—
Included in interest expense	—				—				(549		)

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The table below summarizes the significant unobservable inputs used in calculating fair value for our Level 3 assets and liabilities:

	Valuation Technique		Unobservable Input		Rate
Investment available for sale	Discounted cash flow		Discount rate		10.2	%
Contingent payments	Discounted cash flow		Discount rate		18.5	%

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following tables provide the fair value measurement information about our long-term debt:

	September 30, 2015
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Boyd Gaming Corporation Debt:
Bank credit facility	$	1,064,725			$	1,061,872			$	1,062,290			Level 2
9.00% senior notes due 2020	350,000				350,000				374,500				Level 1
6.875% senior notes due 2023	750,000				750,000				759,375				Level 1
HoldCo Note	157,810				149,553				149,919				Level 3
	2,322,535				2,311,425				2,346,084
Peninsula Segment Debt:
Bank credit facility	668,950				668,950				667,308				Level 2
8.375% Senior Notes due 2018	350,000				350,000				363,125				Level 2
	1,018,950				1,018,950				1,030,433
Total debt	$	3,341,485			$	3,330,375			$	3,376,517

	December 31, 2014
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Boyd Gaming Corporation Debt:
Bank credit facility	$	1,387,425			$	1,383,836			$	1,395,595			Level 2
9.125% senior notes due 2018	500,000				495,155				517,500				Level 1
9.00% senior notes due 2020	350,000				350,000				359,625				Level 1
HoldCo Note	151,740				139,997				144,153				Level 3
	2,389,165				2,368,988				2,416,873
Peninsula Segment Debt:
Bank credit facility	742,400				742,400				754,364				Level 2
8.375% senior notes due 2018	350,000				350,000				363,125				Level 2
Other	3				3				3				Level 3
	1,092,403				1,092,403				1,117,492
Total debt	$	3,481,568			$	3,461,391			$	3,534,365

Balances Disclosed at Fair Value

The following tables provide the fair value measurement information about our obligation under minimum assessment agreements and other financial instruments:

	September 30, 2015
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Liabilities
Obligation under assessment arrangements	$	35,378			$	27,742			$	28,222			Level 3
Other financial instruments	200				182				182				Level 3

	December 31, 2014
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Liabilities
Obligation under assessment arrangements	$	36,749			$	28,612			$	29,529			Level 3
Other financial instruments	300				268				268				Level 3

X

- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

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



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (bbb)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, 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).

+ References

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



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (a),(b)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258



Reference 2: 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=36462937&loc=d3e19190-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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 and/or nonrecurring 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



-Paragraph 2



-Subparagraph (a),(b)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258



Reference 2: 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=36462937&loc=d3e19190-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

Reference 1: 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=36462937&loc=d3e19207-110258



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



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 3



-Subparagraph (b)



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

+ Details

Name:	us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration