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INDEBTEDNESS (Tables)
 9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Summary of Debt
Long-term debt consisted of the following as of September 30, 2019 (in thousands):
 
 
Principal Amount
 
Discount
 
Debt Issuance Costs
 
Net Balance
ABL Facility
 
$
—

 
$
—

 
$
—

 
$
—

First Lien Term Loan
 
925,000

 
(8,681
)
 
(23,590
)
 
892,729

Second Lien Notes
 
400,000

 
(11,876
)
 
(14,455
)
 
373,669

 
 
$
1,325,000

 
$
(20,557
)
 
$
(38,045
)
 
1,266,398

Less: current portion
 
 
 
 
 
 
 
(6,938
)
Total long-term debt
 
 
 
 
 
 
 
$
1,259,460

Long-term debt consisted of the following as of December 31, 2018 (in thousands):
 
 
Principal Amount
 
Discount
 
Debt Issuance Costs
 
Net Balance
Previous Revolving Credit Facility
 
$
—

 
$
—

 
$
—

 
$
—

Previous First Lien Term Loan
 
401,513

 
(1,062
)
 
(5,678
)
 
394,773

Previous Second Lien Term Loan
 
150,000

 
—

 
(5,398
)
 
144,602

 
 
$
551,513

 
$
(1,062
)
 
$
(11,076
)
 
539,375

Less: current portion
 
 
 
 
 
 
 
(4,150
)
Total long-term debt
 
 
 
 
 
 
 
$
535,225
Schedule of Long-term Debt Maturities
Long-term debt matures as follows (in thousands):
Fiscal Year Ending December 31,
 
Minimum Payments
2019
 
$
—

2020
 
9,250

2021
 
9,250

2022
 
9,250

2023
 
9,250

2024 and beyond
 
1,288,000

Total
 
$
1,325,000
Schedule of Estimated Fair Values of Debt Obligations
The following table presents the estimated fair values of the Company’s debt obligations as of September 30, 2019 (in thousands):
Financial Instrument
 
Carrying Value as of September 30, 2019
 
Markets for Identical Item (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
First Lien Term Loan
 
$
892,729

 
$
—

 
$
922,688

 
$
—

Second Lien Notes
 
373,669

 
—

 
—

 
394,653

Total debt instruments
 
$
1,266,398

 
$
—

 
$
922,688

 
$
394,653

The following table sets forth the changes in Level 3 measurements for the nine months ended September 30, 2019 (in thousands):
 
 
Level 3 Measurements
Previous Term Loans fair value as of January 1, 2019
 
$
551,882

Change in fair value
 
(369
)
Repayments of debt principal
 
(2,075
)
Retirements of Previous Term Loans
 
(549,438
)
Issuance of Second Lien Notes as of August 6, 2019
 
388,000

Change in fair value
 
6,653

Second Lien Notes fair value as of September 30, 2019
 
$
394,653