Annual report pursuant to Section 13 and 15(d)

Fair Value Of Financial Instruments

v3.3.1.900
Fair Value Of Financial Instruments
 12 Months Ended
Dec. 31, 2015
Investments, All Other Investments [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS
The carrying amounts on the accompanying consolidated balance sheet for cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, and current debt are carried at cost, which approximates market value due to their short-term nature. Long-term debt related to the building loan is carried at cost, which approximates market value based on the borrowing rates currently available to the Company with similar terms and maturities.
At December 31, 2015, the carrying value of the outstanding debt represented by the Notes was $944.6 million, including the remaining unamortized discount of approximately $2.5 million related to the October Notes and the remaining unamortized premium of approximately $0.3 million related to the December Notes and approximately $14.7 million related to the August Notes. Also, included in the carrying value of the Notes are unamortized debt issuance cost of approximately $5.1 million related to the October Notes, approximately $1.1 million related to the December Notes, approximately $4.9 million related to the August Notes, and approximately $6.8 million related to the April Notes. Based on the quoted market price, the fair value of the Notes was determined to be approximately $846.9 million at December 31, 2015.