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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2013
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]  
Schedule of fair values of the Company's financial instruments

The fair values and carrying values of the Company’s financial instruments at December 31, 2013 and 2012 which are required to be disclosed at fair value, but not recorded at fair value, are noted below.

 
 
December 31, 2013
  
December 31, 2012
 
 
 
Carrying
Value
  
Fair Value
  
Carrying
Value
  
Fair Value
 
Cash and cash equivalents
 
$
122,722
  
$
122,722
  
$
72,600
  
$
72,600
 
Restricted cash
  
10,150
   
10,150
   
10,150
   
10,150
 
Floating rate debt
  
1,480,064
  
See Below
   
1,413,439
   
1,413,439
 
2010 Notes
  
115,881
   
63,438
   
110,918
   
44,375
 
Schedule of fair values of the Company's financial assets and liabilities
As of December 31, 2013 and 2012, the fair values of the Company’s financial assets and liabilities are categorized as follows:

 
 
December 31, 2013
 
 
 
Total
  
Quoted
market
prices in
active
markets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
 
Investments
 
$
77,570
  
$
77,570
  
$
—
 
Derivative instruments — liability position
  
6,975
   
—
   
6,975
 

 
 
December 31, 2012
 
 
 
Total
  
Quoted
market
prices in
active
markets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
 
Investments
 
$
20,988
  
$
20,988
  
$
—
 
Derivative instruments — liability position
  
16,052
   
—
   
16,052