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Debt (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Debt |
Summary of Debt and Finance Lease Obligations | The Company’s debt and finance lease obligations at September 30, 2020 and December 31, 2019 consisted of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2020 |  | 2019
$700M Revolving Credit Facility, interest at LIBOR plus 1.95%, maturing March 31, 2024, less unamortized deferred financing costs of $7,647 and $0 | ​ | $ | 27,353 | ​ | $ | —
$300M Term Loan A, interest at LIBOR plus 1.90%, maturing May 31, 2025, less unamortized deferred financing costs of $2,280 and $2,478 | ​ |  | 297,720 | ​ |  | 297,522
$500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $3,771 and $4,501 | ​ |  | 378,729 | ​ |  | 381,749
$400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $2,531 and $3,222 | ​ |  | 397,469 | ​ |  | 396,778
$700M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $10,989 and $11,808, plus unamortized premium of $2,234 and $2,434 | ​ |  | 691,245 | ​ |  | 690,626
$800M Term Loan (Gaylord Rockies JV), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $6,690 and $8,015 | ​ |  | 793,310 | ​ |  | 791,985
Finance lease obligations | ​ | ​ | 1,146 | ​ | ​ | 1,308
Total debt | ​ | $ | 2,586,972 | ​ | $ | 2,559,968
Schedule of Fair Value of the Company's Derivative Financial Instruments | The estimated fair value of the Company’s derivative financial instruments at September 30, 2020 and December 31, 2019 is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Asset (Liability) Balance
​ | ​ | ​ | ​ | Strike | ​ | ​ | ​ | ​ | ​ | Notional | ​ | September 30, | ​ | December 31,
Hedged Debt | ​ | Type | ​ | Rate | ​ | Index | ​ | Maturity Date | ​ | Amount | ​ | 2020 | ​ | 2019
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | $ | (2,460) | ​ | $ | 959
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (2,460) | ​ | ​ | 959
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (2,460) | ​ | ​ | 956
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2315% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (2,478) | ​ | ​ | 934
Gaylord Rockies Loan | ​ | Interest Rate Swap | ​ | 1.6500% | ​ | 1-month LIBOR | ​ | August 1, 2022 | ​ | $ 800,000 | ​ | ​ | (21,994) | ​ | ​ | (2,174)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (31,852) | ​ | $ | 1,634
Summary of Effect of Derivative Financial Instruments on the Accompanying Condensed Consolidated Statements of Operations | The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Gain (Loss) | ​ | ​ | ​ | ​ | ​ | Amount of Gain (Loss) | ​
​ | ​ | Recognized in OCI | ​ | ​ | ​ | ​ | ​ | Reclassified from Accumulated | ​
​ | ​ | on Derivative | ​ | Location of Gain (Loss) | ​ | OCI into Income (Expense) | ​
​ | ​ | Three Months Ended | ​ | Reclassified from | Three Months Ended | ​
​ | ​ | September 30, | ​ | Accumulated OCI | ​ | September 30, | ​
​ | ​ | 2020 | ​ | 2019 |  | into Income (Expense) |  | 2020 | ​ | 2019 |
Derivatives in Cash Flow Hedging Relationships: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 183 | ​ | $ | (3,789) | ​ | Interest expense | ​ | $ | (3,989) | ​ | $ | 1,197 | ​
Total derivatives | ​ | $ | 183 | ​ | $ | (3,789) | ​ | ​ | ​ | ​ | ​ | $ | (3,989) | ​ | $ | 1,197 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Gain (Loss) | ​ | ​ | ​ | ​ | ​ | Amount of Gain (Loss) | ​
​ | ​ | Recognized in OCI on | ​ | ​ | ​ | ​ | ​ | Reclassified from Accumulated | ​
​ | ​ | Derivative | ​ | Location of Gain (Loss) | ​ | OCI into Income (Expense) | ​
​ | ​ | Nine Months Ended | ​ | Reclassified from | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | Accumulated OCI | ​ | September 30, | ​
​ | ​ | 2020 | ​ | 2019 |  | into Income (Expense) |  | 2020 | ​ | 2019 |
Derivatives in Cash Flow Hedging Relationships: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | (39,965) | ​ | $ | (3,789) | ​ | Interest expense | ​ | $ | (6,479) | ​ | $ | 1,197 | ​
Total derivatives | ​ | $ | (39,965) | ​ | $ | (3,789) | ​ | ​ | ​ | ​ | ​ | $ | (6,479) | ​ | $ | 1,197 | ​

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