XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.19.2

LONG-TERM DEBT AND LINES OF CREDIT (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | As of June 30, 2019 and December 31, 2018, long-term debt consisted of the following:
| June 30, 2019 |  | December 31, 2018
| (in thousands)
Credit Facility: |  |  |
Term loans (face amounts of $4,419,554 and $4,463,643 at June 30, 2019 and December 31, 2018, respectively, less unamortized debt issuance costs of $32,906 and $37,400 at June 30, 2019 and December 31, 2018, respectively) | $ | 4,386,647 |  |  | $ | 4,426,243 |
Revolving Credit Facility | 765,000 |  |  | 704,000 |
Total long-term debt | 5,151,647 |  |  | 5,130,243 |
Less current portion of Credit Facility | 151,062 |  |  | 115,075 |
Long-term debt, excluding current portion | $ | 5,000,585 |  |  | $ | 5,015,168 |
Schedule of Maturities of Long-Term Debt | The maturity requirements on long-term debt as of June 30, 2019 are as follows by year (in thousands):
Year ending December 31, |
2019 | $ | 80,087 |
2020 | 159,979 |
2021 | 195,848 |
2022 | 267,587 |
2023 | 4,006,053 |
2024 and thereafter | 475,000 |
Total | $ | 5,184,554 |
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:
|  |  |  |  |  |  |  | Fair Values
Derivative Financial Instruments |  | Balance Sheet Location |  | Weighted-Average Fixed Rate of Interest at June 30, 2019 |  | Range of Maturity Dates at June 30, 2019 |  | June 30, 2019 |  | December 31, 2018
|  |  |  |  |  |  |  | (in thousands)
Interest rate swaps (Notional of $250 million at June 30, 2019 and $750 million at December 31, 2018) |  | Prepaid expenses and other current assets |  | 1.58% |  | December 31, 2019 |  | $ | 582 |  |  | $ | 3,200 |
Interest rate swaps (Notional of $250 million at June 30, 2019 and $550 million at December 31, 2018) |  | Other noncurrent assets |  | 1.34% |  | July 31, 2020 - March 31, 2021 |  | $ | 1,317 |  |  | $ | 8,256 |
Interest rate swaps (Notional of $1.0 billion at June 30, 2019) |  | Accounts payable and accrued liabilities |  | 2.09% |  | December 31, 2019 |  | $ | 14,617 |  |  | $ | — |
Interest rate swaps (Notional of $1.6 billion at June 30, 2019 and $950 million at December 31, 2018) |  | Other noncurrent liabilities |  | 2.57% |  | March 31, 2021 - December 31, 2022 |  | $ | 49,886 |  |  | $ | 14,601 |
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, 2019 and 2018:
| Three Months Ended |  | Six Months Ended
| June 30, 2019 |  | June 30, 2018 |  | June 30, 2019 |  | June 30, 2018
| (in thousands)
Amount of net unrealized gains (losses) recognized in other comprehensive income | $ | (42,222 | ) |  | $ | 2,932 |  |  | $ | (56,731 | ) |  | $ | 10,508 |
Amount of net unrealized gains reclassified out of other comprehensive income to interest expense | $ | (893 | ) |  | $ | (1,104 | ) |  | $ | (2,723 | ) |  | $ | (1,167 | )

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration