Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt

Summary of debt and capital lease obligations

The Company’s debt and finance lease obligations at September 30, 2019 and December 31, 2018 consisted of (in thousands):

	September 30,		December 31,
	2019		2018
$700M Revolving Credit Facility, interest at LIBOR plus 1.80%, maturing May 23, 2021, less unamortized deferred financing costs of $4,570 and $6,542	$	218,430	$	518,458
$200M Term Loan A, interest at LIBOR plus 1.75%, maturing May 23, 2022, less unamortized deferred financing costs of $960 and $1,220		199,040		198,780
$500M Term Loan B, interest at LIBOR plus 2.00%, maturing May 11, 2024, less unamortized deferred financing costs of $4,637 and $5,307		482,863		485,943
$350M Senior Notes, interest at 5.0%, original maturity April 15, 2021, less unamortized deferred financing costs of $0 and $2,385		—		347,615
$400M Senior Notes, interest at 5.0%, maturing April 15, 2023, less unamortized deferred financing costs of $3,441 and $4,097		396,559		395,903
$500M Senior Notes, interest at 4.75%, maturing October 15, 2027, less unamortized deferred financing costs of $8,385 and $0		491,615		—
$800M Term Loan (Gaylord Rockies joint venture), interest at LIBOR plus 2.50%, maturing July 2, 2023, less unamortized deferred financing costs of $8,546 and $0		791,454		—
$500M Construction Loan (Gaylord Rockies joint venture), original maturity December 18, 2019, less unamortized deferred financing costs of $0 and $1,807		—		457,090
$39M Mezzanine Loan (Gaylord Rockies joint venture), original maturity December 18, 2019, less unamortized deferred financing costs of $0 and $227		—		37,488
Finance lease obligations		1,351		618
Total debt	$	2,581,312	$	2,441,895

Schedule of fair value of the Company's derivative liabilities

	Derivative Liabilities
	Balance Sheet	September 30,		December 31,
	Location	2019		2018
Derivatives designated as hedging instruments:
Interest rate swap	Other liabilities	$	4,986	$	—
Total derivatives		$	4,986	$	—

Summary of effect of derivative financial instruments on the accompanying condensed consolidated statements of operations

The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands):

	Amount of Gain (Loss)					Amount of Gain (Loss)
	Recognized in OCI					Reclassified from Accumulated
	on Derivative				Location of Gain (Loss)	OCI into Income (Expense)
	Three Months Ended				Reclassified from	Three Months Ended
	September 30,				Accumulated OCI	September 30,
	2019		2018		into Income (Expense)	2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap	$	(3,789)	$	—	Interest expense	$	1,197	$	—
Total derivatives	$	(3,789)	$	—		$	1,197	$	—

	Amount of Gain (Loss)					Amount of Gain (Loss)
	Recognized in OCI on					Reclassified from Accumulated
	Derivative				Location of Gain (Loss)	OCI into Income (Expense)
	Nine Months Ended				Reclassified from	Nine Months Ended
	September 30,				Accumulated OCI	September 30,
	2019		2018		into Income (Expense)	2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap	$	(3,789)	$	—	Interest expense	$	1,197	$	—
Total derivatives	$	(3,789)	$	—		$	1,197	$	—