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v3.21.1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Debt |
Summary of Debt and Finance Lease Obligations | The Company’s debt and finance lease obligations at March 31, 2021 and December 31, 2020 consisted of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
​ |  | 2021 |  | 2020
$700M Revolving Credit Facility, interest at LIBOR plus 1.95%, maturing March 31, 2024, less unamortized deferred financing costs of $0 and $7,579 (1) | ​ | $ | — | ​ | $ | 98,421
$300M Term Loan A, interest at LIBOR plus 1.90%, maturing March 31, 2025, less unamortized deferred financing costs of $2,190 and $2,321 | ​ |  | 297,810 | ​ |  | 297,679
$500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $3,274 and $3,524 | ​ |  | 376,726 | ​ |  | 377,726
$400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $0 and $2,301 | ​ |  | — | ​ |  | 397,699
$600M Senior Notes, interest at 4.50%, maturing February 15, 2029, less unamortized deferred financing costs of $10,168 and $0 | ​ |  | 589,832 | ​ |  | —
$700M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $10,336 and $10,676, plus unamortized premium of $2,097 and $2,167 | ​ |  | 691,761 | ​ |  | 691,491
$800M Term Loan (Gaylord Rockies JV), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $5,515 and $6,103 | ​ |  | 794,485 | ​ |  | 793,897
Finance lease obligations | ​ | ​ | 1,038 | ​ | ​ | 1,095
Total debt | ​ | $ | 2,751,652 | ​ | $ | 2,658,008
Schedule of Fair Value of the Company's Derivative Financial Instruments | The estimated fair value of the Company’s derivative financial instruments at March 31, 2021 and December 31, 2020 is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Asset (Liability) Balance
​ | ​ | ​ | ​ | Strike | ​ | ​ | ​ | ​ | ​ | Notional | ​ | March 31, | ​ | December 31,
Hedged Debt | ​ | Type | ​ | Rate | ​ | Index | ​ | Maturity Date | ​ | Amount | ​ | 2021 | ​ | 2020
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | $ | (1,828) | ​ | $ | (2,206)
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (1,829) | ​ | ​ | (2,206)
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (1,829) | ​ | ​ | (2,206)
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2315% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | (1,843) | ​ | ​ | (2,222)
Gaylord Rockies Loan | ​ | Interest Rate Swap | ​ | 1.6500% | ​ | 1-month LIBOR | ​ | August 1, 2022 | ​ | $ 800,000 | ​ | ​ | (15,887) | ​ | ​ | (18,979)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (23,216) | ​ | $ | (27,819)
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 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 | ​
​ | ​ | March 31, | ​ | Accumulated OCI | ​ | March 31, | ​
​ | ​ | 2021 | ​ | 2020 |  | into Income (Expense) |  | 2021 | ​ | 2020 |
Derivatives in Cash Flow Hedging Relationships: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 602 | ​ | $ | (35,947) | ​ | Interest expense | ​ | $ | (4,001) | ​ | $ | 452 | ​
Total derivatives | ​ | $ | 602 | ​ | $ | (35,947) | ​ | ​ | ​ | ​ | ​ | $ | (4,001) | ​ | $ | 452 | ​
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