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Long-term debt (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Long-term Debt
Long-term debt was comprised of the following:
As of September 30, 2021
September 30, 2021December 31, 2020Maturity dateInterest rate
Estimated fair value(1)
Senior Secured Credit Facilities:  
Term Loan A$1,618,750 $1,684,375 8/12/2024LIBOR+1.50% $1,618,750 
Term Loan B-12,695,120 2,715,694 8/12/2026LIBOR+1.75%$2,688,383 
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 %$2,825,625 
3.75% Senior Notes1,500,000 1,500,000 2/15/20313.750 %$1,460,625 
Acquisition obligations and other notes payable(2)
133,260 164,160 2021-20364.78 %$133,260 
Financing lease obligations(3)
300,340 274,292 2022-20384.62 %
Total debt principal outstanding8,997,470 8,163,521 
Discount, premium and deferred financing costs(4)
(59,769)(77,717)
 8,937,701 8,085,804 
Less current portion(166,818)(168,541)
 $8,770,883 $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 September 30, 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 September 30, 2021, the carrying amount of the Company's senior secured credit facilities is reduced by a discount of $4,719 and deferred financing costs of $29,340, and the carrying amount of the Company's senior notes is reduced by deferred financing costs of $42,091 and increased by a debt premium of $16,381. As of December 31, 2020, the carrying amount of the Company's senior secured credit facilities is reduced by a discount of $5,461 and deferred financing costs of $35,825, and the carrying amount of the Company's senior notes is reduced by deferred financing costs of $36,431.
Schedule of Derivative Instruments
The following table summarizes the Company’s interest rate cap agreements outstanding as of September 30, 2021 and December 31, 2020, which are classified in "Other long-term assets" on its consolidated balance sheet: 
 Nine months ended
September 30, 2021		Fair value
Notional amountLIBOR maximum rateEffective dateExpiration dateDebt expenseRecorded OCI gainSeptember 30,
2021		December 31, 2020
2019 cap agreements$3,500,000 2.00%6/30/20206/30/2024$4,132 $3,284 $5,955 $2,671