FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures Abstract

Schedule of recurring fair value measurements

		Fair Value Measurements At Reporting Date

					Quoted prices			Significant			Significant			Measured at
		Balance at			in active			other observable			unobservable			Net Asset Value
		September 30,			markets			inputs			inputs			as a Practical
Description		2019			Level 1			Level 2			Level 3			Expedient ⁽²⁾
		(amounts in thousands)
Liabilities
Deferred compensation plan liabilities ⁽¹⁾		$	31,150		$	23,746		$	-		$	-		$	7,404
Interest Rate Cash Flow Hedge ⁽³⁾		$	784		$	-		$	784		$	-		$	-

					Quoted prices			Significant			Significant			Measured at
		Balance at			in active			other observable			unobservable			Net Asset Value
		December 31,			markets			inputs			inputs			as a Practical
Description		2018			Level 1			Level 2			Level 3			Expedient ⁽²⁾
		(amounts in thousands)
Liabilities
Deferred compensation plan liabilities ⁽¹⁾		$	30,928		$	23,476		$	-		$	-		$	7,452

(1)The Company’s deferred compensation liability, which is included in other long-term liabilities, is recorded at fair value on a recurring basis. The unfunded plan allows participants to hypothetically invest in various specified investment options.

(2)The fair value of underlying investments in collective trust funds is determined using the net asset value (“NAV”) provided by the administrator of the fund as a practical expedient. The NAV is determined by each fund’s trustee based upon the fair value of the underlying assets owned by the fund, less liabilities, divided by outstanding units. In accordance with appropriate accounting guidance, these investments have not been classified in the fair value hierarchy.

(3)The Company’s interest rate collar, which is included in other long-term liabilities, is recorded at fair value on a recurring basis. The derivatives are not exchange listed and therefore the fair value is estimated using models that reflect the contractual terms of the derivative, yield curves, and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs are generally observable and do not contain a high level of subjectivity.

Schedule Of Carrying Value Of Financial Instruments

		September 30,						December 31,
		2019						2018
		Carrying			Fair			Carrying			Fair
		Value			Value			Value			Value
		(amounts in thousands)

Term B Loans ⁽¹⁾		$	866,700		$	867,783		$	1,291,700		$	1,243,261
Revolver ⁽²⁾		$	134,000		$	134,000		$	180,000		$	180,000
Senior Notes ⁽³⁾		$	400,000		$	415,500		$	400,000		$	378,000
Notes ⁽⁴⁾		$	325,000		$	338,406		$	-		$	-
Other debt ⁽⁵⁾		$	881					$	912
Letters of credit ⁽⁵⁾		$	5,862					$	5,862

The following methods and assumptions were used to estimate the fair value of financial instruments:

⁽¹⁾The Company’s determination of the fair value of the Term B-1 Loans was based on quoted prices for these instruments and is considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets.

⁽²⁾The fair value of the Revolver was considered to approximate the carrying value as the interest payments are based on LIBOR rates that reset periodically. The Revolver is considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets.

⁽³⁾The Company utilizes a Level 2 valuation input based upon the market trading prices of the Senior Notes to compute the fair value as these Senior Notes are traded in the debt securities market. The Senior Notes are considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets.

⁽⁴⁾The Company utilizes a Level 2 valuation input based upon the market trading prices of the Notes to compute the fair value as these Notes are traded in the debt securities market. The Notes are considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets.

⁽⁵⁾The Company does not believe it is practicable to estimate the fair value of the other debt or the outstanding standby letters of credit.

Schedule of Cost Method Investments Table Text Block

		Investments Valued Under the
		Measurement Alternative
		September 30,			December 31,
		2019			2018
			(amounts in thousands)
Investment balance before cumulative
impairment as of January 1,		$	11,205		$	9,955
Accumulated impairment as of January 1,			-			-
Investment beginning balance after cumulative
impairment as of January 1,			11,205			9,955
Acquisition of interest in a privately held company			1,500			1,250
Ending period balance		$	12,705		$	11,205