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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

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

	December 31, 2015
(In thousands)	Balance				Level 1				Level 2				Level 3
Assets
Cash and cash equivalents	$	158,821			$	158,821			$	—			$	—
Restricted cash	19,030				19,030				—				—
Investment available for sale	17,839				—				—				17,839
Liabilities
Contingent payments	$	3,632			$	—			$	—			$	3,632

	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, Level 3 Inputs

The following tables summarize the changes in fair value of the Company’s Level 3 assets and liabilities:

	December 31, 2015
	Assets				Liabilities
(In thousands)	Investment Available for Sale				Merger Earnout				Contingent Payments
Balance at January 1, 2015	$	18,357			$	(75	)		$	(3,792	)
Deposits	—				—				—
Total gains (losses) (realized or unrealized):
Included in earnings	125				75				(723		)
Included in other comprehensive income (loss)	(263		)		—				—
Purchases, sales, issuances and settlements:
Settlements	(380		)		—				883
Ending balance at December 31, 2015	$	17,839			$	—			$	(3,632	)
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	$	125			$	—			$	—
Included in interest expense	—				—				(627		)
Included in non-operating income	—				—				(96		)

	December 31, 2014
	Assets								Liabilities
(In thousands)	Investment Available for Sale				CRDA Deposits				Merger Earnout				Contingent Payments
Balance at January 1, 2014	$	17,128			$	4,613			$	(1,125	)		$	(4,343	)
Deposits	—				5,481				—				—
Total gains (losses) (realized or unrealized):
Included in earnings	119				(1,798		)		1,050				(274		)
Included in other comprehensive income (loss)	1,465				—				—				—
Purchases, sales, issuances and settlements:
Settlements	(355		)		(259		)		—				825
Deconsolidation of Borgata on September 30, 2014	—				(8,037		)		—				—
Ending balance at December 31, 2014	$	18,357			$	—			$	(75	)		$	(3,792	)
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	$	119			$	—			$	—			$	—
Included in interest expense	—				—				—				(734		)
Included in non-operating income	—				—				—				60

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		10.0	%
Contingent payments	Discounted cash flow		Discount rate		18.5	%

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

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

	December 31, 2015
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Liabilities
Obligation under assessment arrangements	$	35,126			$	27,660			$	28,381			Level 3
Other financial instruments	200				186				186				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

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following table provides the fair value measurement information about our long-term debt:

	December 31, 2015
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Boyd Gaming Debt:
Bank Credit Facility	$	1,209,725			$	1,197,277			$	1,202,870			Level 2
9.125% Senior Notes due 2018	350,000				342,956				372,750				Level 1
6.875% Senior Notes due 2023	750,000				737,066				772,500				Level 1
	2,309,725				2,277,299				2,348,120
Peninsula Segment Debt:
Bank credit facility	662,750				648,607				661,131				Level 2
8.375% Senior Notes due 2018	350,000				343,643				357,000				Level 2
	1,012,750				992,250				1,018,131
Total debt	$	3,322,475			$	3,269,549			$	3,366,251

	December 31, 2014
(In thousands)	Outstanding Face Amount				Carrying Value				Estimated Fair Value				Fair Value Hierarchy
Boyd Gaming Debt:
Bank Credit Facility	$	1,387,425			$	1,369,176			$	1,395,595			Level 2
9.125% Senior Notes due 2018	500,000				487,765				517,500				Level 1
9.00% Senior Notes due 2020	350,000				348,074				359,625				Level 1
HoldCo Note	151,740				139,968				144,153				Level 3
	2,389,165				2,344,983				2,416,873
Peninsula Segment Debt:
Bank credit facility	742,400				718,807				754,364				Level 2
8.375% Senior Notes due 2018	350,000				341,058				363,125				Level 2
Other	3				3				3				Level 3
	1,092,403				1,059,868				1,117,492
Total debt	$	3,481,568			$	3,404,851			$	3,534,365

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- 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
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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 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).

+ 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=36462937&loc=d3e19190-110258

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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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 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

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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
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-Section 50
-Paragraph 2
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