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v3.22.4

Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt |
Summary of Debt and Finance Lease Obligations | The Company’s debt and finance lease obligations at December 31 consisted of (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
$700M Revolving Credit Facility | ​ | $ | — | ​ | $ | 190,000
$300M Term Loan A | ​ |  | — | ​ |  | 300,000
$500M Term Loan B | ​ |  | 371,250 | ​ |  | 376,250
$600M Senior Notes | ​ | ​ | 600,000 | ​ | ​ | 600,000
$700M Senior Notes | ​ | ​ | 700,000 | ​ | ​ | 700,000
$800M Gaylord Rockies Term Loan | ​ | ​ | 800,000 | ​ | ​ | 800,000
$300M OEG Term Loan (Note 2) | ​ |  | 299,250 | ​ |  | —
$65M OEG Revolver (Note 2) | ​ |  | — | ​ |  | —
Block 21 CMBS Loan | ​ | ​ | 134,636 | ​ | ​ | —
Finance lease obligations | ​ |  | 685 | ​ |  | 884
Unamortized deferred financing costs | ​ | ​ | (30,482) | ​ | ​ | (32,203)
Unamortized premium (discount) | ​ | ​ | (12,747) | ​ | ​ | 1,888
Total debt | ​ | $ | 2,862,592 | ​ | $ | 2,936,819
​
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 | ​ | ​ | ​
​ | 2023 | ​ | 2024 | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | Thereafter | ​ | Total
$700M Revolving Credit Facility | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
$500M Term Loan B | ​ | 5,000 | ​ | ​ | 366,250 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 371,250
$600M 4.50% Senior Notes | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 600,000 | ​ | ​ | 600,000
$700M 4.75% Senior Notes | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 700,000 | ​ | ​ | — | ​ | ​ | 700,000
$800M Gaylord Rockies Term Loan (1) | ​ | 800,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 800,000
$300M OEG Term Loan | ​ | 3,000 | ​ | ​ | 3,000 | ​ | ​ | 3,000 | ​ | ​ | 3,000 | ​ | ​ | 3,000 | ​ | ​ | 284,250 | ​ | ​ | 299,250
$65M OEG Revolver | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Block 21 CMBS Loan | ​ | 2,765 | ​ | ​ | 2,904 | ​ | ​ | 3,094 | ​ | ​ | 125,873 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 134,636
Total | $ | 810,765 | ​ | $ | 372,154 | ​ | $ | 6,094 | ​ | $ | 128,873 | ​ | $ | 703,000 | ​ | $ | 884,250 | ​ | $ | 2,905,136
| (1) | $800 Million Gaylord Rockies Term Loan includes three, one-year extension options, subject to certain requirements.
​
Schedule of Fair Value of the Company's Derivative Financial Instruments | ​ The estimated fair values of the Company’s derivative financial instruments at December 31 are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Asset (Liability) Balance
​ | ​ | ​ | ​ | Strike | ​ | ​ | ​ | ​ | ​ | Notional | ​ | December 31, | ​ | December 31,
Hedged Debt | ​ | Type | ​ | Rate | ​ | Index | ​ | Maturity Date | ​ | Amount | ​ | 2022 | ​ | 2021
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | $ | 1,096 | ​ | $ | (733)
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | 1,096 | ​ | ​ | (733)
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2235% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | 1,096 | ​ | ​ | (733)
Term Loan B | ​ | Interest Rate Swap | ​ | 1.2315% | ​ | 1-month LIBOR | ​ | May 11, 2023 | ​ | $ 87,500 | ​ | ​ | 1,093 | ​ | ​ | (742)
Gaylord Rockies Term Loan | ​ | Interest Rate Swap | ​ | 1.6500% | ​ | 1-month LIBOR | ​ | August 1, 2022 | ​ | $ 800,000 | ​ | ​ | - | ​ | ​ | (6,421)
Gaylord Rockies Term Loan | ​ | Interest Rate Swap | ​ | 3.3410% | ​ | 1-month LIBOR | ​ | August 1, 2023 | ​ | $ 800,000 | ​ | ​ | 6,969 | ​ | ​ | -
OEG Term Loan | ​ | Interest Rate Swap | ​ | 4.5330% | ​ | 3-month SOFR | ​ | December 18, 2025 | ​ | $ 100,000 | ​ | ​ | (1,164) | ​ | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 10,186 | ​ | $ | (9,362)
​
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)
​ | ​ | 2022 | ​ | 2021 |  | into Income (Expense) |  | 2022 | ​ | 2021
Derivatives in Cash Flow Hedging Relationships: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 16,007 | ​ | $ | 1,955 | ​ | Interest expense | ​ | $ | (3,541) | ​ | $ | (16,501)
Total derivatives | ​ | $ | 16,007 | ​ | $ | 1,955 | ​ | ​ | ​ | ​ | ​ | $ | (3,541) | ​ | $ | (16,501)
​

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