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INDEBTEDNESS (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Summary of Debt
Long-term debt consisted of the following as of December 31, 2019 (in thousands):
 
 
Principal Amount
 
Discount
 
Debt Issuance Costs
 
Net Balance
ABL Facility
 
$
—

 
$
—

 
$
—

 
$
—

First Lien Term Loan
 
925,000

 
(8,399
)
 
(22,825
)
 
893,776

Second Lien Notes
 
412,256

 
(11,672
)
 
(7,864
)
 
392,720

 
 
$
1,337,256

 
$
(20,071
)
 
$
(30,689
)
 
1,286,496

Less: current portion
 
 
 
 
 
 
 
(9,250
)
Total long-term debt
 
 
 
 
 
 
 
$
1,277,246

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):
Year Ending December 31,
 
Minimum Payments
2020
 
$
9,250

2021
 
9,250

2022
 
9,250

2023
 
9,250

2024
 
9,250

2025 and beyond
 
1,291,006

Total
 
$
1,337,256
Schedule of Estimated Fair Values of Debt Obligations
The following table presents the estimated fair values of the Company’s debt obligations as of December 31, 2019 (in thousands):
Financial Instrument
 
Carrying Value as of December 31, 2019
 
Markets for Identical Item (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
First Lien Note Facility
 
$
893,776

 
$
—

 
$
922,688

 
$
—

Second Lien Note Facility
 
392,720

 
—

 
—

 
411,119

Total debt instruments
 
$
1,286,496

 
$
—

 
$
922,688

 
$
411,119

The following table sets forth the changes in Level 3 measurements for the year ended December 31, 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

Interest rate PIK
 
12,256

Change in fair value
 
10,863

Second Lien Notes fair value as of December 31, 2019
 
$
411,119