Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021 and December 31, 2020:


(In thousands)	Level I		Level II		Level III		Total
At March 31, 2021:
Assets
Cash equivalents	$	147,523	$	—	$	—	$	147,523
Marketable securities	11,193		—		—		11,193


Foreign currency derivatives	—		407		—		407

Liabilities
Interest rate swap contracts	$	—	$	1,793	$	—	$	1,793
Foreign currency derivatives	—		2,917		—		2,917


At December 31, 2020:
Assets
Cash equivalents	$	107,494	$	—	$	—	$	107,494
Marketable securities	62,442		—		—		62,442


Foreign currency derivatives	—		667		—		667

Liabilities
Interest rate swap contracts	$	—	$	2,403	$	—	$	2,403
Foreign currency derivatives	—		3,515		—		3,515

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, 2021
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term loan A facility	$	662,584	$	670,363
5.00% Notes due April 2024	396,976		406,620
4.75% Notes due August 2025	790,605		818,864
4.25% Notes due February 2029	983,377		972,500

	$	2,833,542	$	2,868,347


(In thousands)	December 31, 2020
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term loan A facility	$	669,878	$	665,719
4.75% Notes due December 2022	398,230		400,500
5.00% Notes due April 2024	991,074		1,015,000
4.75% Notes due August 2025	790,125		826,160

	$	2,849,307	$	2,907,379