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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present our assets (liabilities) that are required to be measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016 (in thousands):

					Fair Value at Reporting Date Using
	March 31, 2017				Level 1				Level 2				Level 3
Derivatives
Foreign currency forward contracts	$	977			$	—			$	977			$	—
Interest rate swap contracts	(13,770		)		—				(13,770		)		—
Total	$	(12,793	)		$	—			$	(12,793	)		$	—

					Fair Value at Reporting Date Using
	December 31, 2016				Level 1				Level 2				Level 3
Derivatives
Foreign currency forward contracts	$	(7,360	)		$	—			$	(7,360	)		$	—
Interest rate swap contracts	(15,684		)		—				(15,684		)		—
Total	$	(23,044	)		$	—			$	(23,044	)		$	—

Schedule of Fair Value and Carrying Value of Debt

The following table presents the fair value and carrying value of our senior notes and borrowings under our senior secured credit facilities as of March 31, 2017 and December 31, 2016, (in thousands):

		Fair Value at								Carrying Value at (2)
Financial Instrument		March 31, 2017				December 31, 2016				March 31, 2017				December 31, 2016
Term Loan A		$	576,417			$	583,538			$	575,353			$	582,595
New Term Loan B		1,910,649				—				1,889,842				—
Prior Term Loan B(1)		—				1,435,993				—				1,417,616
Incremental Term Loan Facility(1)		—				283,413				—				282,354
Term Loan C(1)		—				49,436				—				49,237
Revolver, $400 million		—				—				—				—
5.375% Senior secured notes due 2023		543,581				542,919				530,000				530,000
5.25% Senior secured notes due 2023		509,375				515,000				500,000				500,000

______________________________

(1) Refinanced on February 22, 2017 by the New Term Loan B.

(2) Excludes net unamortized debt issuance costs.

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- References

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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