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INDEBTEDNESS (Tables)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Summary of Debt
Long-term debt consisted of the following as of June 30, 2021 (in thousands):
Principal AmountDiscountDebt Issuance CostsNet Balance
ABL facility$— $— $— $— 
First lien term loan1,159,862 (9,149)(19,480)1,131,233 
Second lien notes— — — — 
$1,159,862 $(9,149)$(19,480)1,131,233 
Less: current portion(11,775)
Total long-term debt$1,119,458 
Long-term debt consisted of the following as of December 31, 2020 (in thousands):
Principal AmountDiscountDebt Issuance CostsNet Balance
ABL facility$— $— $— $— 
First lien term loan915,750 (7,253)(19,710)888,787 
Second lien notes245,781 (6,102)(4,113)235,566 
$1,161,531 $(13,355)$(23,823)1,124,353 
Less: current portion(9,250)
Total long-term debt$1,115,103 
Schedule of Long-term Debt Maturities Long-term debt matures as follows (in thousands):
Year Ending December 31,Minimum Payments
2021$5,888 
202211,775 
202311,775 
202411,775 
202511,775 
Thereafter1,106,874 
Total$1,159,862 
Schedule of Estimated Fair Values of Debt Obligations
The following table presents the estimated fair values of the Company’s debt obligations as of June 30, 2021 (in thousands):
Financial InstrumentCarrying Value as of June 30, 2021Markets for Identical Item (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
First lien term loan$1,131,233 $— $1,159,862 $— 
Second lien notes— — — — 
Total debt instruments$1,131,233 $— $1,159,862 $— 
The following table sets forth the changes in Level 3 measurements for the three months ended March 31, 2021 (in thousands). As the Second Lien Notes were prepaid in Q1, there was no change in the fair value for the three months ended June 30, 2021.
Level 3 Measurements
Second lien notes fair value as of January 1, 2021$266,438 
Principal prepayment(245,781)
Change in fair value(20,657)
Second lien notes fair value as of March 31, 2021$—