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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instrument Detail [Abstract]  
Carrying Amounts and Estimated Fair Value of Financial Instruments

Carrying amounts and estimated fair values of our financial instruments as of December 31 are as follows: 

 

 

 

2019

 

 

2018

 

(in thousands)

 

Carrying

Amount

 

 

Fair

Value

 

 

Carrying

Amount

 

 

Fair

Value

 

Cash, cash equivalents and restricted cash (Level 1)

 

$

84,254

 

 

$

84,254

 

 

$

79,441

 

 

$

79,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative assets related to interest rate swaps (Level 2)

 

$

1,601

 

 

$

1,601

 

 

$

1,510

 

 

$

1,510

 

Derivative liabilities related to interest rate swaps (Level 2)

 

$

(22,398

)

 

$

(22,398

)

 

$

(2,888

)

 

$

(2,888

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term debt, including current portion (Level 2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term loans

 

$

(689,820

)

 

$

(703,437

)

 

$

(539,169

)

 

$

(539,037

)

Senior notes

 

 

—

 

 

 

—

 

 

 

(149,786

)

 

 

(154,328

)

Revenue bonds

 

 

(65,735

)

 

 

(68,200

)

 

 

(94,735

)

 

 

(93,144

)

Medium-term notes

 

 

(3,000

)

 

 

(3,480

)

 

 

(3,000

)

 

 

(3,419

)

Total long-term debt1

 

$

(758,555

)

 

$

(775,117

)

 

$

(786,690

)

 

$

(789,928

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company owned life insurance (Level 3)

 

$

4,157

 

 

$

4,157

 

 

$

3,104

 

 

$

3,104

 

 

1

The carrying amount of long-term debt includes principal and unamortized discounts. At December 31, 2018, long-term debt in the above table included the $29.0 million of revenue bonds for the MDF facility which was classified as held for sale. See Note 3: Sale of Deltic MDF Facility for further information.