Long-term Debt (Notes)	6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt As of December 31, 2021, the Company’s JPM Credit Agreement provided for senior secured credit facilities in an aggregate principal amount of $1.325 billion, which consisted of (i) a term loan facility in the principal amount of $850.0 million maturing in 2027 (the “Term Loan B”) and (ii) a revolving credit facility with commitments in an aggregate principal amount of $475.0 million maturing in 2025 (the “Revolving Facility”). On March 28, 2022, the Company entered into Amendment No. 5 to the JPM Credit Agreement, under which (i) the aggregate principal amount of the Revolving Facility was increased from $475.0 million to $600.0 million, (ii) the interest rate on the Revolving Facility changed to the SOFR, plus a credit spread adjustment of 10 bps plus an amount between 200 bps and 300 bps based on the total net leverage ratio, (iii) the total net leverage ratio covenant increased to 7.0x consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) and (iv) the maturity of the Revolving Facility was extended to April 1, 2027. The other terms of the Revolving Facility and the terms of the Term Loan B remained unchanged. The JPM Credit Agreement provides for a benchmark replacement to SOFR such that there are no material contract modifications resulting from a transition from LIBOR. The Term Loan B bears interest at LIBOR plus 350 bps, subject to a LIBOR floor of 50 bps. At June 30, 2022, the outstanding borrowings on the Term Loan B were $842.4 million and had an applicable interest rate of 4.69%. The outstanding borrowings on the Revolving Facility of $525.0 million had an applicable interest rate of 4.50% at June 30, 2022. The Revolving Facility is also subject to a commitment fee of 0.40% on the unused capacity at June 30, 2022. The JPM Credit Agreement requires the Company to meet certain financial covenants and comply with customary affirmative and negative covenants as listed in the underlying agreement. The Company was in compliance with these covenants at June 30, 2022. Interest Rate Caps The Company enters into interest rate caps to mitigate its exposure to interest rate risk by limiting the impact of interest rate changes on cash flows. On May 5, 2022, the Company sold its $300.0 million notional, 2.50% interest rate cap expiring March 8, 2026 and two $100.0 million notional, 3.00% interest rate caps expiring August 13, 2028 for aggregate proceeds of $19.0 million. The Company retained its $300.0 million, 1.50% interest rate cap expiring on March 10, 2024. The interest rate caps are recorded at an aggregate fair value of $8.6 million and $6.3 million at June 30, 2022 and December 31, 2021, respectively. The interest rate caps are included as a component of other assets on the condensed consolidated balance sheets. The Company recorded a fair value gain of $5.5 million and $21.3 million related to the interest rate caps for the three and six months ended June 30, 2022, respectively, and a fair value loss of $0.8 million for each of the three and six months ended June 30, 2021. The change in fair value of the interest rate caps is included as a component of other income (expense), net in the condensed consolidated statements of comprehensive income (loss).

As of December 31, 2021, the Company’s JPM Credit Agreement provided for senior secured credit facilities in an aggregate principal amount of $1.325 billion, which consisted of (i) a term loan facility in the principal amount of $850.0 million maturing in 2027 (the “Term Loan B”) and (ii) a revolving credit facility with commitments in an aggregate principal amount of $475.0 million maturing in 2025 (the “Revolving Facility”).

On March 28, 2022, the Company entered into Amendment No. 5 to the JPM Credit Agreement, under which (i) the aggregate principal amount of the Revolving Facility was increased from $475.0 million to $600.0 million, (ii) the interest rate on the Revolving Facility changed to the SOFR, plus a credit spread adjustment of 10 bps plus an amount between 200 bps and 300 bps based on the total net leverage ratio, (iii) the total net leverage ratio covenant increased to 7.0x consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) and (iv) the maturity of the Revolving Facility was extended to April 1, 2027. The other terms of the Revolving Facility and the terms of the Term Loan B remained unchanged. The JPM Credit Agreement provides for a benchmark replacement to SOFR such that there are no material contract modifications resulting from a transition from LIBOR.

The Term Loan B bears interest at LIBOR plus 350 bps, subject to a LIBOR floor of 50 bps. At June 30, 2022, the outstanding borrowings on the Term Loan B were $842.4 million and had an applicable interest rate of 4.69%. The outstanding borrowings on the Revolving Facility of $525.0 million had an applicable interest rate of 4.50% at June 30, 2022. The Revolving Facility is also subject to a commitment fee of 0.40% on the unused capacity at June 30, 2022.

The JPM Credit Agreement requires the Company to meet certain financial covenants and comply with customary affirmative and negative covenants as listed in the underlying agreement. The Company was in compliance with these covenants at June 30, 2022.

The Company enters into interest rate caps to mitigate its exposure to interest rate risk by limiting the impact of interest rate changes on cash flows. On May 5, 2022, the Company sold its $300.0 million notional, 2.50% interest rate cap expiring March 8, 2026 and two $100.0 million notional, 3.00% interest rate caps expiring August 13, 2028 for aggregate proceeds of $19.0 million. The Company retained its $300.0 million, 1.50% interest rate cap expiring on March 10, 2024.

The interest rate caps are recorded at an aggregate fair value of $8.6 million and $6.3 million at June 30, 2022 and December 31, 2021, respectively. The interest rate caps are included as a component of other assets on the condensed consolidated balance sheets. The Company recorded a fair value gain of $5.5 million and $21.3 million related to the interest rate caps for the three and six months ended June 30, 2022, respectively, and a fair value loss of $0.8 million for each of the three and six months ended June 30, 2021. The change in fair value of the interest rate caps is included as a component of other income (expense), net in the condensed consolidated statements of comprehensive income (loss).