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Fair Value Measurements
 9 Months Ended
Sep. 30, 2012
Fair Value Measurements [Abstract]  
Fair Value Measurements
14. Fair Value Measurements

The Company determines fair value measurements in accordance with FASB ASC Topic 820, which establishes a fair value hierarchy under which an asset or liability is categorized based on the lowest level of input significant to its fair value measurement. The levels of input defined by FASB ASC Topic 820 are as follows:

Level 1 – quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date;

Level 2 – other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3 – unobservable and should be used to measure fair value to the extent that observable inputs are not available.

Below is a summary of assets and liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of September 30, 2012:

 

                                 
    Carrying
Value		     Fair Value  

Description

     Level 1     Level 2     Level 3  

Interest rate swap liabilities – current (see Note 11)

   $ (5,849 )    $ —       $ —       $ (5,849 ) 

Interest rate swap liabilities – long-term (see Note 11)

   $ (10,075 )    $ —       $ —       $ (10,075 ) 

Investment in RealD (see Note 9)

   $ 10,932     $ 10,932     $ —       $ —    

Below is a summary of assets and liabilities measured at fair value on a recurring basis by the Company under FASB ASC Topic 820 as of December 31, 2011:

 

                                 
    Carrying
Value		     Fair Value  

Description

     Level 1     Level 2     Level 3  

Interest rate swap liabilities – current (see Note 11)

   $ (9,979 )    $ —       $ —       $ (9,979 ) 

Interest rate swap liabilities – long-term (see Note 11)

   $ (6,597 )    $ —       $ —       $ (6,597 ) 

Investment in RealD (see Note 9)

   $ 9,709     $ 9,709     $ —       $ —    

 

Below is a reconciliation of the beginning and ending balance for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

 

                                 
    Liabilities     Assets  
    2012     2011     2012     2011  

Beginning balances - January 1

   $ (16,576 )    $ (15,970 )    $ —       $ 8,955  

Total loss included in accumulated other comprehensive loss

     (107 )      (2,790 )      —         (8,955 ) 

Total gain included in earnings

     761       754       —         —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Ending balances – September 30

   $ (15,922 )    $ (18,006 )    $ —       $ —    
   

 

 

    

 

 

    

 

 

    

 

 

  

There were no changes in valuation techniques during the period. There were no transfers in or out of Level 3 during the nine months ended September 30, 2012.