Credit Arrangements and Debt Obligations (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Outstanding Borrowings

Outstanding term loan borrowings were as follows:

	June 30, 2021		December 31, 2020
	(In thousands)
Term loan	$	1,029,313	$	1,034,688
Deferred financing costs and original issue discount	(3,130)		(3,801)
Total debt	1,026,183		1,030,887
Less current maturities	(10,750)		(10,750)
Long-term debt	$	1,015,433	$	1,020,137

Schedule of Maturities of Long-term Debt

Future principal payments of long-term debt are as follows for the years ending December 31:

	Term Loan
	(In thousands)
Remainder of 2021	$	5,375
2022	10,750
2023	1,013,188
Total future principal payments	$	1,029,313

Schedule of Fair Value of Derivative Financial Instruments

The fair value of the derivative financial instruments was as follows for the periods presented:

Derivative financial instruments	Consolidated balance sheet classification	June 30, 2021		December 31, 2020
		(In thousands)
Interest rate swaps - liability	Other current liabilities	$	1,911	$	4,775
Interest rate caps - asset	Other assets	$	1,141	$	277

Schedule of the Effect of Derivatives Financial Instruments on Other Comprehensive Income (Loss)

The effect of the derivative financial instruments on other comprehensive income (loss) was as follows:

Derivatives designated as cash flow hedging instruments	Amount of gain (loss) recognized in other comprehensive income (loss)		Consolidated statement of income classification	Amount of net gain (loss) reclassified into earnings		Total effect on other comprehensive income (loss)
	(In thousands)			(In thousands)
Three months ended June 30, 2021
Cash flow hedges	$	(138)	Interest expense — net	$	(1,471)	$	1,333
Income tax effect	37		Income tax expense	393		(356)
Net of income taxes	$	(101)		$	(1,078)	$	977
Three months ended June 30, 2020
Cash flow hedges	$	(219)	Interest expense — net	$	(1,356)	$	1,137
Income tax effect	59		Income tax expense	365		(306)
Net of income taxes	$	(160)		$	(991)	$	831

Derivatives designated as cash flow hedging instruments	Amount of gain (loss) recognized in other comprehensive income (loss)		Consolidated statement of income classification	Amount of net gain (loss) reclassified into earnings		Total effect on other comprehensive income (loss)
	(In thousands)			(In thousands)
Six months ended June 30, 2021
Cash flow hedges	$	840	Interest expense — net	$	(2,921)	$	3,761
Income tax effect	(224)		Income tax expense	780		(1,004)
Net of income taxes	$	616		$	(2,141)	$	2,757
Six months ended June 30, 2020
Cash flow hedges	$	(6,521)	Interest expense — net	$	(1,641)	$	(4,880)
Income tax effect	1,754		Income tax expense	442		1,312
Net of income taxes	$	(4,767)		$	(1,199)	$	(3,568)