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LONG-TERM DEBT AND LINES OF CREDIT (Tables)
 9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Schedule of outstanding debt
As of September 30, 2017 and December 31, 2016, long-term debt consisted of the following:
 
September 30, 2017
 
December 31, 2016
 
 
 
 
 
(in thousands)
 
 
 
 
Corporate credit facility:
 
 
 
Term loans (face amounts of $3,956,497 and $3,728,857 at September 30, 2017 and December 31, 2016, respectively, less unamortized debt issuance costs of $40,180 and $46,282 at September 30, 2017 and December 31, 2016, respectively)
$
3,916,317

 
$
3,682,575

Revolving Credit Facility
855,000

 
756,000

Capital lease obligations
1

 
37

Total long-term debt
4,771,318

 
4,438,612

Less current portion of corporate credit facility (face amounts of $102,129 and $187,274 at September 30, 2017 and December 31, 2016, respectively, less unamortized debt issuance costs of $8,722 and $9,526 at September 30, 2017 and December 31, 2016, respectively) and current portion of capital lease obligations of $1 and $37 at September 30, 2017 and December 31, 2016, respectively
93,408

 
177,785

Long-term debt, excluding current portion
$
4,677,910

 
$
4,260,827
Schedule of maturities of long-term debt
Maturity requirements on long-term debt as of September 30, 2017 by year are as follows (in thousands):
Years ending December 31,
 
2017
$
23,821

2018
108,979

2019
141,912

2020
161,144

2021
180,376

2022
3,111,391

2023 and thereafter
1,083,875

Total
$
4,811,498
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 September 30, 2017
 
Range of Maturity Dates
 
September 30, 2017
 
December 31, 2016
 
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps (Notional of $1,000 million at September 30, 2017, $250 million at December 31, 2016)
 
Other assets
 
1.49%
 
February 28, 2019 - July 31, 2020
 
$
2,923

 
$
2,147

Interest rate swaps (Notional of $300 million at September 30, 2017, $750 million at December 31, 2016)
 
Accounts payable and accrued liabilities
 
1.91%
 
March 31, 2021
 
$
1,495

 
$
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 nine months ended September 30, 2017 and 2016:
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2017
 
September 30, 2016
 
September 30, 2017
 
September 30, 2016
 
 
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
Amount of gain (loss) recognized in other comprehensive income
$
341

 
$
3,429

 
$
(2,214
)
 
$
(12,665
)
Amount reclassified out of other comprehensive income to interest expense
$
1,172

 
$
1,853

 
$
4,667

 
$
5,733