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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative Instrument Detail [Abstract]  
Estimated Fair Value of Financial Instruments

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

 

 

June 30, 2021

 

 

December 31, 2020

 

(in thousands)

 

Carrying

Amount

 

 

Fair

Value

 

 

Carrying

Amount

 

 

Fair

Value

 

Derivative assets related to interest rate swaps (Level 2)

 

$

38,428

 

 

$

38,428

 

 

$

18,529

 

 

$

18,529

 

Derivative liabilities related to interest rate swaps (Level 2)

 

$

(31,213

)

 

$

(31,213

)

 

$

(46,110

)

 

$

(46,110

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term loans

 

$

(690,794

)

 

$

(710,863

)

 

$

(690,469

)

 

$

(716,631

)

Revenue bonds

 

 

(65,735

)

 

 

(70,034

)

 

 

(65,735

)

 

 

(67,885

)

Medium-term notes

 

 

(3,000

)

 

 

(3,100

)

 

 

(3,000

)

 

 

(3,545

)

Total long-term debt1

 

$

(759,529

)

 

$

(783,997

)

 

$

(759,204

)

 

$

(788,061

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

3,667

 

 

$

3,667

 

 

$

3,328

 

 

$

3,328

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

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