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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Components of Long-term debt

Long-term debt consisted of the following:

						As of December 31,
(in thousands)						2020						2019
Revolving credit facility						$	—					$	—
Senior secured notes, due in 2029						550,000						—
Senior unsecured notes, due in 2025						400,000						400,000
Senior unsecured notes, due in 2027						500,000						500,000
Senior unsecured notes, due in 2031						500,000						—
Term loan, due in 2024						290,250						293,250
Term loan, due in 2026						751,660						759,272
Total outstanding principal						2,991,910						1,952,522
Less: Debt issuance costs and issuance discounts						(57,939)						(37,492)
Less: Current portion						(10,612)						(10,612)
Net carrying value of long-term debt						2,923,359						1,904,418
Fair value of long-term debt *						$	3,064,194					$	1,991,164

* Fair values of the 2025, 2027, 2029 and 2031 Senior Notes are estimated based on quoted private market transactions and are classified as Level 1 in the fair value hierarchy. The fair values of the term loans are based on observable estimates provided by third party financial professionals, and as such, are classified within Level 2 of the fair value hierarchy.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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