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Long-term debt (Tables)
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Long-term Debt
Long-term debt was comprised of the following: 
As of March 31, 2021
March 31, 2021December 31, 2020Maturity dateInterest rate
Estimated fair value(1)
Senior Secured Credit Facilities:  
Term Loan A$1,662,500 $1,684,375 8/12/2024LIBOR + 1.50% $1,666,656 
Term Loan B-12,708,836 2,715,694 8/12/2026LIBOR + 1.75%$2,698,678 
Revolving line of credit— 75,000 8/12/2024LIBOR + 1.50%
Senior Notes:
4.625% Senior Notes2,750,000 1,750,000 6/1/20304.625 %$2,801,150 
3.75% Senior Notes1,500,000 1,500,000 2/15/20313.750 %$1,436,220 
Acquisition obligations and other notes payable(2)
152,531 164,160 2021-20364.95 %$152,531 
Financing lease obligations(3)
289,324 274,292 2022-20384.83 %
Total debt principal outstanding9,063,191 8,163,521 
Discount, premium and deferred financing costs(4)
(65,235)(77,717)
 8,997,956 8,085,804 
Less current portion(168,191)(168,541)
 $8,829,765 $7,917,263 
(1)For the Company's senior secured credit facilities and senior notes, fair value estimates are based upon bid and ask quotes, typically a level 2 input. For acquisition obligations and other notes payable, the carrying values presented approximate their estimated fair values, based on estimates of their present values using level 2 interest rate inputs.
(2)The interest rate presented for acquisition obligations and other notes payable is their weighted average interest rate based on the current fixed and LIBOR interest rate components in effect as of March 31, 2021.
(3)Financing lease obligations are measured at their approximate present values at inception. The interest rate presented is the weighted average discount rate embedded in financing leases outstanding. The term of one ground lease runs to 2070, in addition to the other lease maturity dates presented in the table above.
(4)As of March 31, 2021, the carrying amount of the Company's senior secured credit facilities includes a discount of $5,212 and deferred financing costs of $33,650 and the carrying amount of the Company's senior notes includes a premium of $(17,327) and deferred financing costs of $43,700. As of December 31, 2020, the carrying amount of the Company's senior secured credit facilities included a discount of $5,461 and deferred financing costs of $35,825, and the carrying amount of the Company's senior notes included deferred financing costs of $36,431.
Schedule of Derivative Instruments
The following table summarizes the Company’s interest rate cap agreements outstanding as of March 31, 2021 and December 31, 2020, which are classified in "Other long-term assets" on its consolidated balance sheet: 
 Three months ended
March 31, 2021		Fair value
Notional amountLIBOR maximum rateEffective dateExpiration dateDebt expenseRecorded OCI gainMarch 31, 2021December 31, 2020
2019 cap agreements$3,500,000 2.00%6/30/20206/30/2024$1,377 $6,505 $9,176 $2,671