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Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt |
Summary of Debt and Finance Lease Obligations | The Company’s debt and finance lease obligations at December 31 consisted of (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
$700M Revolving Credit Facility, less unamortized DFCs of $7,579 and $0 | ​ | $ | 98,421 | ​ | $ | —
$300M Term Loan A, less unamortized DFCs of $2,321 and $2,478 | ​ |  | 297,679 | ​ |  | 297,522
$500M Term Loan B, less unamortized DFCs of $3,524 and $4,501 | ​ |  | 377,726 | ​ |  | 381,749
$400M Senior Notes, less unamortized DFCs of $2,301 and $3,222 | ​ |  | 397,699 | ​ |  | 396,778
$700M Senior Notes, less unamortized DFCs of $10,676 and $11,808, plus unamortized premium of $2,167 and $2,434 | ​ | ​ | 691,491 | ​ | ​ | 690,626
$800M Term Loan (Gaylord Rockies JV), less unamortized DFCs of $6,103 and $8,015 | ​ | ​ | 793,897 | ​ | ​ | 791,985
Finance lease obligations | ​ |  | 1,095 | ​ |  | 1,308
Total debt | ​ | $ | 2,658,008 | ​ | $ | 2,559,968
​
Annual Maturities of Long-Term Debt Excluding Finance Lease Obligations | Annual maturities of long-term debt, excluding finance lease obligations, are as follows (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Years | ​ | ​ | ​
​ | 2021 | ​ | 2022 | ​ | 2023 | ​ | 2024 | ​ | 2025 | ​ | Thereafter | ​ | Total
$700M Revolving Credit Facility | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 106,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 106,000
$300M Term Loan A | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 300,000 | ​ | ​ | — | ​ | ​ | 300,000
$500M Term Loan B | ​ | 5,000 | ​ | ​ | 5,000 | ​ | ​ | 5,000 | ​ | ​ | 366,250 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 381,250
$400M 5% Senior Notes | ​ | — | ​ | ​ | — | ​ | ​ | 400,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 400,000
$700M 4.75% Senior Notes | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 700,000 | ​ | ​ | 700,000
$800M Term Loan (1) | ​ | — | ​ | ​ | — | ​ | ​ | 800,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 800,000
Total | $ | 5,000 | ​ | $ | 5,000 | ​ | $ | 1,205,000 | ​ | $ | 472,250 | ​ | $ | 300,000 | ​ | $ | 700,000 | ​ | $ | 2,687,250
(1) | The $800 million term loan is indebtedness of the Gaylord Rockies joint venture.
Schedule of Fair Value of the Company's Derivative Financial Instruments | The estimated fair value of the Company’s derivative financial instruments at December 31 is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Asset (Liability) Balance
​ | ​ | ​ | ​ | Strike | ​ | ​ | ​ | ​ | ​ | Notional | ​ | December 31, | ​ | 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 | ​ | $ | (2,206) | ​ | $ | 959
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (2,206) | ​ | ​ | 959
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (2,206) | ​ | ​ | 956
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2315% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (2,222) | ​ | ​ | 934
Gaylord Rockies Loan | ​ | Interest Rate Swap | ​ | 1.6500% | ​ | 1-month LIBOR | ​ | August 1, 2022 | ​ | $ 800,000 | ​ | ​ | (18,979) | ​ | ​ | (2,174)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (27,819) | ​ | $ | 1,634
Summary of Effect of Derivative Financial Instruments on the Accompanying Consolidated Statements of Operations | The effect of the Company’s derivative financial instruments on the accompanying consolidated statements of operations and comprehensive income (loss) for the years ended December 31 is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Gain (Loss) | ​ | Location of Gain (Loss) | Amount of Gain (Loss)
​ | ​ | Recognized in OCI | ​ | Reclassified from | Reclassified from Accumulated
​ | ​ | on Derivative | ​ | Accumulated OCI | ​ | OCI into Income (Expense)
​ | ​ | 2020 | ​ | 2019 |  | into Income (Expense) |  | 2020 | ​ | 2019
Derivatives in Cash Flow Hedging Relationships: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | (39,958) | ​ | $ | 3,539 | ​ | Interest expense | ​ | $ | (10,505) | ​ | $ | 1,905
Total derivatives | ​ | $ | (39,958) | ​ | $ | 3,539 | ​ | ​ | ​ | ​ | ​ | $ | (10,505) | ​ | $ | 1,905
​

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