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LONG-TERM DEBT AND LINES OF CREDIT (Tables)
 6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of outstanding debt
As of June 30, 2017 and December 31, 2016, long-term debt consisted of the following:
 
June 30, 2017
 
December 31, 2016
 
 
 
 
 
(in thousands)
Corporate credit facility:
 
 
 
Term loans (face amounts of $3,980,316 and $3,728,857 at June 30, 2017 and December 31, 2016, respectively, less unamortized debt issuance costs of $42,399 and $46,282 at June 30, 2017 and December 31, 2016, respectively)
$
3,937,917

 
$
3,682,575

Revolving Credit Facility
324,000

 
756,000

Capital lease obligations
4

 
37

Total long-term debt
4,261,921

 
4,438,612

Less current portion of corporate credit facility (face amounts of $95,279 and $187,274 at June 30, 2017 and December 31, 2016, respectively, less unamortized debt issuance costs of $8,773 and $9,526 at June 30, 2017 and December 31, 2016, respectively) and current portion of capital lease obligations of $4 and $37 at June 30, 2017 and December 31, 2016, respectively
86,510

 
177,785

Long-term debt, excluding current portion
$
4,175,411

 
$
4,260,827
Schedule of maturities of long-term debt
Maturity requirements on long-term debt as of June 30, 2017 by year are as follows (in thousands):
Years ending December 31,
 
2017
$
47,644

2018
108,979

2019
141,912

2020
161,144

2021
180,376

2022
2,580,390

2023 and thereafter
1,083,875

Total
$
4,304,320
Schedule of derivative instruments
The table below presents the fair values of our derivative financial instruments designated as cash flow hedges included in the consolidated balance sheets:
Derivative Financial Instruments
 
Balance Sheet Location
 
Weighted-Average Fixed Rate of Interest at June 30, 2017
 
Range of Maturity Dates
 
June 30, 2017
 
December 31, 2016
 
 
 
 
 
 
 
 
(in thousands)
Interest rate swaps (Notional of $500 million at June 30, 2017, $250 million at December 31, 2016)
 
Other assets
 
1.46%
 
December 31, 2019 - July 31, 2020
 
$
2,395

 
$
2,147

Interest rate swaps (Notional of $800 million at June 30, 2017, $750 million at December 31, 2016)
 
Accounts payable and accrued liabilities
 
1.67%
 
February 28, 2019 - March 31, 2021
 
$
2,479

 
$
3,175
Schedule of derivative instrument effect on other comprehensive income (loss)
The table below presents the effects of our interest rate swaps on the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2017 and 2016:
 
Three Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
 
 
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
Amount of loss recognized in other comprehensive income
$
(3,382
)
 
$
(5,276
)
 
$
(2,555
)
 
$
(16,094
)
Amount reclassified out of other comprehensive income to interest expense
$
1,897

 
$
1,925

 
$
3,493

 
$
3,880