|
Long-term debt (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Long Term Debt |
Long-term debt
was comprised of the following:
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
Senior Secured Credit
Facilities:
|
|
|
|
|
|
|
|
|
|
Term Loan A
|
|
$ |
800,000 |
|
|
$ |
900,000 |
|
|
Term Loan A-3
|
|
|
1,282,500 |
|
|
|
1,350,000 |
|
|
Term Loan B
|
|
|
1,697,500 |
|
|
|
1,715,000 |
|
|
Term Loan B-2
|
|
|
1,633,500 |
|
|
|
1,650,000 |
|
|
Senior notes
|
|
|
2,800,000 |
|
|
|
2,800,000 |
|
|
Acquisition obligations and
other notes payable
|
|
|
67,352 |
|
|
|
69,527 |
|
|
Capital lease
obligations
|
|
|
152,751 |
|
|
|
96,594 |
|
|
|
|
|
|
|
|
|
|
|
Total debt principal
outstanding
|
|
|
8,433,603 |
|
|
|
8,581,121 |
|
|
Discount on long-term
debt
|
|
|
(17,675 |
) |
|
|
(21,545 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
8,415,928 |
|
|
|
8,559,576 |
|
|
Less current
portion
|
|
|
(274,697 |
) |
|
|
(233,042 |
) |
|
|
|
|
|
|
|
|
|
|
|
$ |
8,141,231 |
|
|
$ |
8,326,534 |
|
|
|
|
|
|
|
|
|
|
|
| Scheduled Maturities of Long-term Debt |
Scheduled
maturities of long-term debt at December 31, 2013 were as
follows:
|
|
|
|
|
|
2014
|
|
|
274,697 |
|
|
2015
|
|
|
845,831 |
|
|
2016
|
|
|
1,897,554 |
|
|
2017
|
|
|
910,263 |
|
|
2018
|
|
|
806,339 |
|
|
Thereafter
|
|
|
3,698,919 |
|
|
| Derivative Instruments |
The following
table summarizes the Company’s derivative instruments as of
December 31, 2013 and 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Interest rate swap and cap agreements (liabilities and
assets) |
|
| |
|
December 31,
2013 |
|
|
December 31,
2012 |
|
|
Derivatives
designated as hedging instruments
|
|
Balance sheet
location |
|
Fair value |
|
|
Balance sheet
location |
|
Fair value |
|
|
Interest rate swap
agreements
|
|
Other short-
term liabilities
|
|
$ |
12,069 |
|
|
Other long-
term liabilities |
|
$ |
18,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap
agreements
|
|
Other long-
term assets |
|
$ |
10,004 |
|
|
Other long-
term assets |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate cap
agreements
|
|
Other long-
term assets |
|
$ |
7,567 |
|
|
Other long-
term assets |
|
$ |
65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Effects of Interest Rate Swap Agreements |
The following
table summarizes the effects of the Company’s interest rate
swap and cap agreements for the years ended December 31, 2013,
2012 and 2011:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Amount of gains
(losses)
recognized in OCI
on interest
rate swap
and cap
agreements |
|
|
Location of
(losses) gains
reclassified
from
accumulated
OCI into
income |
|
Amount of gains
(losses)
reclassified
from accumulated
OCI into
income |
|
|
Derivatives designated
as
cash flow
hedges
|
|
Years ended
December 31, |
|
|
|
Years ended
December 31, |
|
| |
2013 |
|
|
2012 |
|
|
2011 |
|
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Interest rate swap
agreements
|
|
$ |
1,251 |
|
|
$ |
(8,838 |
) |
|
$ |
(35,767 |
) |
|
Debt expense |
|
$ |
15,678 |
|
|
$ |
(12,989 |
) |
|
$ |
(12,622 |
) |
|
Interest rate cap
agreements
|
|
|
(974 |
) |
|
|
(1,316 |
) |
|
|
(11,777 |
) |
|
Debt expense |
|
|
5,418 |
|
|
|
(3,589 |
) |
|
|
(3,289 |
) |
|
Tax (expense)
benefit
|
|
|
(108 |
) |
|
|
3,950 |
|
|
|
18,495 |
|
|
|
|
|
(8,207 |
) |
|
|
6,448 |
|
|
|
6,190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
169 |
|
|
$ |
(6,204 |
) |
|
$ |
(29,049 |
) |
|
|
|
$ |
12,889 |
|
|
$ |
(10,130 |
) |
|
$ |
(9,721 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|