| Assets and liabilities measured at fair value on recurring basis |
The table below presents the balances of assets and liabilities measured at fair value as of September 25, 2016, December 31, 2015, and September 27, 2015 on a recurring basis as well as the fair values of other financial instruments: | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Unaudited Condensed Consolidated Balance Sheet Location | Fair Value Hierarchy Level | September 25, 2016 | | December 31, 2015 | | September 27, 2015 | Carrying Value | Fair Value | | Carrying Value | Fair Value | | Carrying Value | Fair Value | Financial assets (liabilities) measured on a recurring basis: | | | | | | | | | | | Interest rate swap agreements not designated as cash flow hedges | Current derivative liability | Level 2 | — |
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| | $ | (3,770 | ) | $ | (3,770 | ) | Interest rate swap agreements not designated as cash flow hedges | Derivative Liability | Level 2 | $ | (30,185 | ) | $ | (30,185 | ) | | — |
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| Interest rate swap agreements designated as cash flow hedges | Derivative Liability | Level 2 | — |
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| | $ | (22,918 | ) | $ | (22,918 | ) | | $ | (24,042 | ) | $ | (24,042 | ) | Other financial assets (liabilities): | | | | | | | | | | | Term debt | Long-Term Debt (1) | Level 2 | $ | (601,650 | ) | $ | (603,154 | ) | | $ | (606,375 | ) | $ | (604,859 | ) | | $ | (608,850 | ) | $ | (609,611 | ) | March 2013 notes | Long-Term Debt (1) | Level 1 | $ | (500,000 | ) | $ | (520,000 | ) | | $ | (500,000 | ) | $ | (507,500 | ) | | $ | (500,000 | ) | $ | (507,500 | ) | June 2014 notes | Long-Term Debt (1) | Level 1 | $ | (450,000 | ) | $ | (477,000 | ) | | $ | (450,000 | ) | $ | (453,375 | ) | | $ | (450,000 | ) | $ | (454,500 | ) |
| | (1) | Carrying values of long-term debt balances are before reductions for debt issuance cost amounts of $17.0 million, $19.7 million, and $20.9 million as of September 25, 2016, December 31, 2015, and September 27, 2015. |
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