|
Long-term debt (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Debt Disclosure [Abstract] |
|
| Long Term Debt |
Long-term debt was comprised of the following:
|
|
|
December 31, |
|
|
|
|
2014 |
|
|
2013 |
|
|
Senior Secured Credit Facilities: |
|
|
|
|
|
|
|
|
|
Term Loan A |
|
$ |
975,000 |
|
|
$ |
800,000 |
|
|
Term Loan A-3 |
|
|
— |
|
|
|
1,282,500 |
|
|
Term Loan B |
|
|
3,482,500 |
|
|
|
1,697,500 |
|
|
Term Loan B-2 |
|
|
— |
|
|
|
1,633,500 |
|
|
Senior notes |
|
|
3,775,000 |
|
|
|
2,800,000 |
|
|
Acquisition obligations and other notes payable |
|
|
69,045 |
|
|
|
67,352 |
|
|
Capital lease obligations |
|
|
218,097 |
|
|
|
152,751 |
|
|
Total debt principal outstanding |
|
|
8,519,642 |
|
|
|
8,433,603 |
|
|
Discount on long-term debt |
|
|
(16,208 |
) |
|
|
(17,675 |
) |
|
|
|
|
8,503,434 |
|
|
|
8,415,928 |
|
|
Less current portion |
|
|
(120,154 |
) |
|
|
(274,697 |
) |
|
|
|
$ |
8,383,280 |
|
|
$ |
8,141,231 |
|
|
| Scheduled Maturities of Long-term Debt |
Scheduled maturities of long-term debt at December 31, 2014 were as follows:
|
2015 |
|
|
120,154 |
|
|
2016 |
|
|
117,193 |
|
|
2017 |
|
|
144,161 |
|
|
2018 |
|
|
155,750 |
|
|
2019 |
|
|
730,084 |
|
|
Thereafter |
|
|
7,252,300 |
|
|
| Derivative Instruments |
The following table summarizes the Company’s derivative instruments as of December 31, 2014 and 2013:
|
|
|
Interest rate swap and cap agreements (liabilities and assets) |
|
|
|
|
December 31, 2014 |
|
|
December 31, 2013 |
|
|
Derivatives designated as hedging instruments |
|
Balance sheet
location |
|
Fair value |
|
|
Balance sheet
location |
|
Fair value |
|
|
Interest rate swap agreements |
|
Other short-
term liabilities |
|
$ |
1,457 |
|
|
Other short-
term liabilities |
|
$ |
12,069 |
|
|
Interest rate swap agreements |
|
Other long-
term assets |
|
$ |
3,281 |
|
|
Other long-
term assets |
|
$ |
10,004 |
|
|
Interest rate cap agreements |
|
Other long-
term assets |
|
$ |
13,934 |
|
|
Other long-
term assets |
|
$ |
7,567 |
|
|
| 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, 2014, 2013 and 2012:
|
|
|
Amount of gains (losses)
recognized in OCI
on interest rate swap
and cap agreements |
|
|
Location of (losses) gains reclassified from |
|
Amount of gains (losses)
reclassified from accumulated
OCI into income |
|
|
|
|
Years ended December 31, |
|
|
accumulated |
|
Years ended December 31, |
|
|
Derivatives designated as cash flow hedges |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
OCI into
income |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
Interest rate swap agreements |
|
$ |
(8,390 |
) |
|
$ |
1,251 |
|
|
$ |
(8,838 |
) |
|
Debt expense |
|
$ |
12,279 |
|
|
$ |
15,678 |
|
|
$ |
(12,989 |
) |
|
Interest rate cap agreements |
|
|
(8,119 |
) |
|
|
(974 |
) |
|
|
(1,316 |
) |
|
Debt expense |
|
|
5,130 |
|
|
|
5,418 |
|
|
|
(3,589 |
) |
|
Tax (expense) benefit |
|
|
6,450 |
|
|
|
(108 |
) |
|
|
3,950 |
|
|
|
|
|
(6,801 |
) |
|
|
(8,207 |
) |
|
|
6,448 |
|
|
Total |
|
$ |
(10,059 |
) |
|
$ |
169 |
|
|
$ |
(6,204 |
) |
|
|
|
$ |
10,608 |
|
|
$ |
12,889 |
|
|
$ |
(10,130 |
) |
|