XML 39 R28.htm IDEA: XBRL DOCUMENT v3.23.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurement of Financial Instruments
The following table presents, for each applicable level within the fair value hierarchy, the Company’s net derivative assets and liabilities, including both current and noncurrent portions, measured at fair value on a recurring basis:
(in thousands)
Level 1Level 2Level 3
March 31, 2023
Total assets
$— $129,587 $— 
Total liabilities
— 344 — 
December 31, 2022
Total assets
$— $119,122 $— 
Total liabilities
— 4,656 — 
Long-term Debt, Fair Value The following table summarizes the carrying values, principal amounts and fair values of these instruments as of the dates indicated:
March 31, 2023December 31, 2022
Carrying ValuePrincipal AmountFair ValueCarrying ValuePrincipal AmountFair value
Credit Facility due 2027(1)
$285,000 $285,000 $285,000 $385,000 $385,000 $385,000 
5.375% Senior Notes due 2026(2)
286,732 289,448 274,858 286,512 289,448 264,366 
7.75% Senior Notes due 2026(2)
300,000 300,000 298,120 300,000 300,000 291,338 
6.875% Senior Notes due 2027(2)
351,872 356,351 343,618 351,632 356,351 337,126 
3.25% Convertible Senior Notes due 2028(2)
165,240 170,000 308,476 165,025 170,000 285,858 
5.875% Senior Notes due 2029(2)
654,072 700,000 645,292 652,629 700,000 601,125 
(1)     The carrying values of the amounts outstanding under OpCo’s Credit Agreement approximate fair value because its variable interest rates are tied to current market rates and the applicable credit spreads represent current market rates for the credit risk profile of the Company.
(2)    The carrying values include associated unamortized debt issuance costs and any debt discounts as reflected in the consolidated balance sheets. The fair values are determined using quoted market prices for these debt securities, a Level 1 classification in the fair value hierarchy, and are based on the aggregate principal amount of the senior notes outstanding.