Rite Aid 2015 Annual Report Download - page 120

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended February 28, 2015, March 1, 2014 and March 2, 2013
(In thousands, except per share amounts)
23. Financial Instruments
The carrying amounts and fair values of financial instruments at February 28, 2015 and March 1,
2014 are listed as follows:
2015 2014
Carrying Fair Carrying Fair
Amount Value Amount Value
Variable rate indebtedness ..... $2,695,000 $2,649,825 $2,522,293 $2,524,508
Fixed rate indebtedness ....... $2,857,950 $3,230,801 $3,127,439 $3,569,777
Cash, trade receivables and trade payables are carried at market value, which approximates their
fair values due to the short-term maturity of these instruments.
The following methods and assumptions were used in estimating fair value disclosures for financial
instruments:
LIBOR-based borrowings under credit facilities:
The carrying amounts for LIBOR-based borrowings under the credit facilities, term loans and term
notes are estimated based on the quoted market price of the financial instruments.
Long-term indebtedness:
The fair values of long-term indebtedness are estimated based on the quoted market prices of the
financial instruments. If quoted market prices were not available, the Company estimated the fair value
based on the quoted market price of a financial instrument with similar characteristics.
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