Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2020

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents for each of these hierarchy levels, the Company's financial assets and liabilities that are measured at fair value on a recurring basis at March 31, 2020 and December 31, 2019:


(In thousands)	Level I		Level II		Level III		Total
At March 31, 2020:
Assets
Cash equivalents	$	256,983	$	—	$	—	$	256,983
Marketable securities	3,273		—		—		3,273


Foreign currency derivatives	—		3,366		—		3,366

Liabilities
Interest rate swap contracts	$	—	$	3,963	$	—	$	3,963
Foreign currency derivatives	—		3,018		—		3,018


At December 31, 2019:
Assets
Cash equivalents	$	191,214	$	—	$	—	$	191,214
Marketable securities	4,448		—		—		4,448


Foreign currency derivatives	—		1,884		—		1,884

Liabilities
Interest rate swap contracts	$	—	$	1,966	$	—	$	1,966
Foreign currency derivatives	—		1,888		—		1,888

Carrying Values and Fair Values of the Company's Financial Instruments

The carrying values and estimated fair values of the Company's financial instruments, excluding those that are carried at fair value in the condensed consolidated balance sheets, are summarized as follows:


(In thousands)	March 31, 2020
			Carrying Amount			Estimated Fair Value
Debt instruments:
Term loan A facility	$	714,999		$	683,977
4.75% Notes due August 2025	788,707			778,000
5.00% Notes due April 2024	989,205			975,000
4.75% Notes due December 2022	397,184			387,880
Other debt	5,000			5,000
	$	2,895,095		$	2,829,857


(In thousands)	December 31, 2019
			Carrying Amount			Estimated Fair Value
Debt instruments:
Term loan A facility	$	723,560		$	724,303
4.75% Notes due August 2025	788,247			803,000
5.00% Notes due April 2024	988,609			1,020,000
4.75% Notes due December 2022	595,813			605,250

	$	3,096,229		$	3,152,553