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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Assets and Liabilities Recorded at Fair Value | Assets and liabilities recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018 are as follows:
| Fair Value Based on Significant Other Observable Inputs (Level 2) |  |
| June 30, 2019 |  | December 31, 2018
| (In thousands) |  |
Assets: |  |  |
Cash surrender value of life insurance policies (1) | $ | 31,836 |  | $ | 31,395
Interest rate caps designated as hedges (2) | 703 |  | 4,839
Total assets | $ | 32,539 |  | $ | 36,234
Liabilities: |  |  |
Deferred compensation plan (3) | $ | 17,602 |  | $ | 19,848
Total liabilities | $ | 17,602 |  | $ | 19,848
(1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) As of June 30, 2019, approximately $0.4 million and $0.3 million were included in other current assets and other assets, respectively, in the accompanying unaudited condensed consolidated balance sheets. As of December 31, 2018, approximately $1.8 million and $3.0 million were included in other current assets and other assets, respectively, in the accompanying unaudited condensed consolidated balance sheets. (3) Included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets.
Fair Value and Carrying Value of Significant Fixed Rate Long-Term Debt | At June 30, 2019 and December 31, 2018, the fair value and carrying value of Sonic’s significant fixed rate long-term debt were as follows:
| June 30, 2019 |  |  |  | December 31, 2018 |  |
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
| (In thousands) |  |  |  |  |  |
5.0% Notes (1) | $ | 290,719 |  | $ | 289,273 |  | $ | 262,515 |  | $ | 289,273
6.125% Notes (1) | $ | 246,250 |  | $ | 250,000 |  | $ | 216,250 |  | $ | 250,000
Mortgage Notes (2) | $ | 210,435 |  | $ | 208,788 |  | $ | 218,402 |  | $ | 215,196
Other (2) (3) | $ | — |  | $ | — |  | $ | 20,437 |  | $ | 20,588
(1) As determined by market quotations as of June 30, 2019 and December 31, 2018, respectively (Level 1). (2) As determined by discounted cash flows (Level 3) based on estimated current market interest rates for comparable instruments. (3) As discussed in Note 1, “Summary of Significant Accounting Policies,” due to the adoption of ASC 842, “Leases,” effective January 1, 2019, previously existing capital lease liabilities have been reclassified from current maturities of long-term debt and long-term debt to current lease liabilities and long-term lease liabilities in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2019.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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