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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instrument Detail [Abstract]  
Estimated Fair Value of Financial Instruments

The following table presents the estimated fair values of our financial instruments:

 

 

September 30, 2020

 

 

December 31, 2019

 

(in thousands)

 

Carrying

Amount

 

 

Fair

Value

 

 

Carrying

Amount

 

 

Fair

Value

 

Derivative assets related to interest rate swaps (Level 2)

 

$

3,282

 

 

$

3,282

 

 

$

1,601

 

 

$

1,601

 

Derivative liabilities related to interest rate swaps (Level 2)

 

$

(54,161

)

 

$

(54,161

)

 

$

(22,398

)

 

$

(22,398

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term debt, including current portion (Level 2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term loans

 

$

(690,307

)

 

$

(717,946

)

 

$

(689,820

)

 

$

(703,437

)

Revenue bonds

 

 

(65,735

)

 

 

(66,885

)

 

 

(65,735

)

 

 

(68,200

)

Medium-term notes

 

 

(3,000

)

 

 

(3,558

)

 

 

(3,000

)

 

 

(3,480

)

Total long-term debt1

 

$

(759,042

)

 

$

(788,389

)

 

$

(758,555

)

 

$

(775,117

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company owned life insurance asset (COLI) (Level 3)

 

$

3,028

 

 

$

3,028

 

 

$

4,157

 

 

$

4,157

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

The carrying amount of long-term debt includes principal and unamortized discounts.