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Financial Instruments | 9 Months Ended
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Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Financial Instruments | Financial Instruments
a. | Fair Value Measurements
For a description of how the Company estimates fair value and for a description of the fair value hierarchy levels, see note 12 to the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year ended December 31, 2017. The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis as well as the estimated fair value of the Company’s financial instruments that are not accounted for at the fair value on a recurring basis.
|  |  |  | September 30, 2018 |  | December 31, 2017
|  | Fair Value Hierarchy Level |  | Carrying Amount Asset / (Liability) $ |  | Fair Value Asset / (Liability) $ |  | Carrying Amount Asset / (Liability) $ |  | Fair Value Asset / (Liability) $
Recurring: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents and restricted cash |  | Level 1 |  | 58,827 |  |  | 58,827 |  |  | 75,710 |  |  | 75,710 |
Derivative instruments (note 9) |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements (1) |  | Level 2 |  | 8,504 |  |  | 8,504 |  |  | 5,242 |  |  | 5,242 |
Forward freight agreements (1) |  | Level 2 |  | 102 |  |  | 102 |  |  | — |  |  | — |
Other: |  |  |  |  |  |  |  |  |  |
Advances to equity accounted investments |  | Note (2) |  | 9,930 |  |  | Note (2) |  |  | 9,930 |  |  | Note (2) |
Long-term debt, including current portion |  | Level 2 |  | (807,078 | ) |  | (793,851 | ) |  | (952,302 | ) |  | (946,105 | )
Obligations related to capital leases, including current portion |  | Level 2 |  | (296,710 | ) |  | (290,849 | ) |  | (148,908 | ) |  | (147,401 | )
(1) | The fair value of the Company’s interest rate swap agreements and FFAs at September 30, 2018 and December 31, 2017 excludes accrued interest income and expenses which are recorded in accounts receivables and accrued liabilities, respectively, on the unaudited consolidated balance sheets.
(2) | The advances to equity-accounted investments together with the Company’s investments in the equity-accounted investments form the net aggregate carrying value of the Company’s interests in the equity-accounted investments in these consolidated financial statements. The fair values of the individual components of such aggregate interests as at September 30, 2018 and December 31, 2017 were not determinable.
b. | Financing Receivables
The following table contains a summary of the Company’s financing receivables by type and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis.
|  |  |  | September 30, 2018 |  | December 31, 2017
Class of Financing Receivable | Credit Quality Indicator |  | Grade | $ |  | $
Advances to equity accounted investments | Other internal metrics |  | Performing | 9,930 |  |  | 9,930 |
Total |  |  |  | 9,930 |  |  | 9,930 |

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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