Cablevision 2012 Annual Report Download - page 181

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-53
Fair Value of Financial Instruments
The following methods and assumptions were used to estimate fair value of each class of financial
instruments for which it is practicable to estimate:
Credit Facility Debt, Collateralized Indebtedness, Senior Notes and Debentures and Notes Payable
The fair values of each of the Company's debt instruments are based on quoted market prices for the same
or similar issues or on the current rates offered to the Company for instruments of the same remaining
maturities.
The carrying values, estimated fair values, and classification under the fair value hierarchy of the
Company's financial instruments, excluding those that are carried at fair value in the accompanying
consolidated balance sheets, are summarized as follows:
December 31, 2012
Fair Value
Hierarchy
Carrying
Amount
Estimated
Fair Value
CSC Holdings notes receivable:
Cablevision senior notes held by Newsday
Holdings LLC(a) ................................................... Level II $ 753,717 $ 842,184
Debt instruments:
Credit facility debt(b) ............................................... Level II $ 4,658,106 $ 4,666,700
Collateralized indebtedness ..................................... Level II 556,152 540,831
Senior notes and debentures ..................................... Level II 2,846,683 3,250,258
Notes payable ........................................................... Level II 12,585 12,585
CSC Holdings total debt instruments .......................... 8,073,526 8,470,374
Cablevision senior notes .......................................... Level II 2,891,536 3,198,170
Cablevision total debt instruments .............................. $10,965,062 $11,668,544
December 31, 2011
Carrying
Amount
Estimated
Fair Value
CSC Holdings notes receivable:
Cablevision senior notes held by Newsday Holdings LLC(a) .........................
.
$ 753,717 $ 802,268
Debt instruments:
Credit facility debt(b) ......................................................................................
.
$ 5,184,194 $5,198,987
Collateralized indebtedness .............................................................................
.
455,938 446,660
Senior notes and debentures ............................................................................
.
3,279,694 3,627,852
Notes payable ..................................................................................................
.
29,227 29,227
CSC Holdings total debt instruments ..................................................................
.
8,949,053 9,302,726
Cablevision senior notes .................................................................................
.
2,166,966 2,355,160
Cablevision total debt instruments ......................................................................
.
$11,116,019 $11,657,886
________________
(a) These notes are eliminated at the consolidated Cablevision level.
(b) The carrying value of the Company's credit facility debt, the substantial portion of which bears interest at variable
rates, approximates its fair value.
Fair value estimates related to the Company's debt instruments and senior notes receivable presented
above are made at a specific point in time, based on relevant market information and information about
the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of