INDEBTEDNESS (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Summary of Debt

Long-term debt consisted of the following as of March 31, 2020 (in thousands):

	Principal Amount		Discount			Debt Issuance Costs			Net Balance
ABL facility	$	—	$	—		$	—		$	—
First lien term loan	922,688		(8,120		)	(22,069		)	892,499
Second lien notes	412,256		(11,455		)	(7,721		)	393,080
	$	1,334,944	$	(19,575	)	$	(29,790	)	1,285,579
Less: current portion									(9,250		)
Total long-term debt									$	1,276,329

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

Schedule of Long-term Debt Maturities

Long-term debt matures as follows (in thousands):

Year Ending December 31,	Minimum Payments
2020	$	6,938
2021	9,250
2022	9,250
2023	9,250
2024	9,250
Thereafter	1,291,006
Total	1,334,944

Schedule of Estimated Fair Values of Debt Obligations

The following table presents the estimated fair values of the Company’s debt obligations as of March 31, 2020 (in thousands):

Financial Instrument	Carrying Value as of March 31, 2020		Markets for Identical Item (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
First lien term loan	$	892,499	$	—	$	775,058	$	—
Second lien notes	393,080		—		—		339,371
Total debt instruments	$	1,285,579	$	—	$	775,058	$	339,371

The following table sets forth the changes in Level 3 measurements for the three months ended March 31, 2020 (in thousands):

	Level 3 Measurements
Second lien notes fair value as of January 1, 2020	$	411,119
Change in fair value	(71,748		)
Second lien notes fair value as of March 31, 2020	$	339,371