XML 54 R39.htm IDEA: XBRL DOCUMENT v3.5.0.2
Long-Term Debt - Additional Information (Detail)
1 Months Ended 3 Months Ended 6 Months Ended
Apr. 07, 2015
USD ($)
Jul. 31, 2016
USD ($)
Jun. 30, 2016
USD ($)
Swap
Jun. 30, 2015
USD ($)
Swap
Jun. 30, 2016
USD ($)
Swap
Jun. 30, 2015
USD ($)
Swap
Dec. 31, 2015
USD ($)
May 14, 2013
Dec. 01, 2009
USD ($)
Debt Instrument [Line Items]                  
Long-term debt     $ 1,642,863,000   $ 1,642,863,000   $ 1,601,287,000    
Proceeds from draw on revolving credit facility         70,000,000 $ 45,000,000      
Repayment of revolving credit facility         20,000,000 45,000,000      
Outstanding letters of credit     $ 17,200,000   $ 17,200,000        
Percentage of initial public offering net proceeds in restricted payments         6.00%        
Percentage of Market Capitalization on restricted payment         7.50%        
Restrictive covenants, restricted payments used         $ 57,000,000        
Restrictive covenants, restricted payments capacity remaining         33,000,000        
Cash paid for interest         $ 28,301,000 $ 35,201,000      
Interest Rate Swaps [Member]                  
Debt Instrument [Line Items]                  
Maturity of interest rate swap         Sep. 30, 2016        
Variable rate of interest     0.75%   0.75%        
Interest Rate Swaps [Member] | Combined Interest Rate Cash Flow Hedges On Three Swaps [Member]                  
Debt Instrument [Line Items]                  
Number of interest rate swaps held | Swap     4   4        
Number of interest rate derivatives held with combined notional amount | Swap     3   3        
Notional amount of interest rate swap     $ 1,000,000   $ 1,000,000        
Interest Rate Swaps [Member] | Fourth Traditional Swap [Member]                  
Debt Instrument [Line Items]                  
Notional amount of interest rate swap     $ 250,000,000   $ 250,000,000        
Maturity of interest rate swap         Sep. 30, 2016        
Fixed rate of interest on swaps     0.901%   0.901%        
Variable rate of interest     0.75%   0.75%        
Forward Interest Rate Swaps [Member]                  
Debt Instrument [Line Items]                  
Number of interest rate swaps held | Swap       5   5      
Notional amount of interest rate swap       $ 1,000,000,000   $ 1,000,000,000      
Maturity of interest rate swap         May 14, 2020        
Variable rate of interest       0.75%   0.75%      
Weighted average fixed interest rate       2.45%   2.45%      
Maximum [Member] | Interest Rate Swaps [Member] | Combined Interest Rate Cash Flow Hedges On Three Swaps [Member]                  
Debt Instrument [Line Items]                  
Fixed rate of interest on swaps     1.051%   1.051%        
Minimum [Member] | Interest Rate Swaps [Member] | Combined Interest Rate Cash Flow Hedges On Three Swaps [Member]                  
Debt Instrument [Line Items]                  
Fixed rate of interest on swaps     1.049%   1.049%        
Revolving Credit Facility [Member]                  
Debt Instrument [Line Items]                  
Unamortized debt issuance costs and discounts     $ 1,854,000   $ 1,854,000   2,383,000    
Long-term debt     65,000,000   65,000,000   15,000,000    
Senior secured revolving     $ 192,500,000   $ 192,500,000        
Debt instrument interest rate effective percentage     2.93%   2.93%        
Permitted increased commitments under the Revolving Credit Facility in aggregate principal amount     $ 350,000,000   $ 350,000,000        
Interest rate, description         Borrowings of loans under the Revolving Credit Facility bear interest at a fluctuating rate per annum equal to, at SEA’s option, (a) a base rate equal to the higher of (1) the federal funds rate plus 1/2 of 1%, and (2) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A. as its “prime rate” or (b) a LIBOR rate determined by reference to the BBA LIBOR rate, or the successor thereto if the BBA is no longer making a LIBOR rate available, for the interest period relevant to such borrowing.        
Basis point step-down in applicable margin, description         The applicable margin for borrowings under the Revolving Credit Facility is 1.75%, in the case of base rate loans, and 2.75%, in the case of LIBOR rate loans. The applicable margin (under either a base rate or LIBOR rate) is subject to one 25 basis point step-down upon achievement by SEA of certain corporate credit ratings.        
Basis point step down on applicable margin upon achievement of certain leverage ratio         0.25%        
Debt instrument interest rate selected percentage     2.50%   2.50%        
Commitment fees on unused portion of facility         0.50%        
Amount available for borrowing     $ 110,300,000   $ 110,300,000        
Revolving Credit Facility [Member] | Subsequent Events [Member]                  
Debt Instrument [Line Items]                  
Proceeds from draw on revolving credit facility   $ 15,000              
Repayment of revolving credit facility   $ 80,000              
Revolving Credit Facility [Member] | Federal Funds Rate [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans         0.50%        
Revolving Credit Facility [Member] | Base Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans         1.75%        
Revolving Credit Facility [Member] | LIBOR Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans         2.75%        
Restrictive Covenants [Member]                  
Debt Instrument [Line Items]                  
Restrictive covenants, restricted payments capacity available         $ 90,000,000        
Restrictive Covenants [Member] | Scenario One [Member]                  
Debt Instrument [Line Items]                  
Maximum Total Leverage Ratio         5.00%        
Restricted payment on Senior Secured Credit Facilities         $ 90,000,000        
Minimum Total Leverage Ratio         4.50%        
Restrictive Covenants [Member] | Scenario Two [Member]                  
Debt Instrument [Line Items]                  
Maximum Total Leverage Ratio         4.50%        
Restricted payment on Senior Secured Credit Facilities         $ 120,000,000        
Minimum Total Leverage Ratio         4.00%        
Restrictive Covenants [Member] | Scenario Three [Member]                  
Debt Instrument [Line Items]                  
Maximum Total Leverage Ratio         4.00%        
Restricted payment on Senior Secured Credit Facilities         $ 120,000,000        
Minimum Total Leverage Ratio         3.50%        
Term B-3 Loans [Member]                  
Debt Instrument [Line Items]                  
Debt instrument, balance $ 280,000,000                
Long-term debt, maturity date         May 14, 2020        
Unamortized debt issuance costs and discounts     3,042,000   $ 3,042,000   3,448,000    
Long-term debt     $ 246,500,000   $ 246,500,000   $ 247,900,000    
Debt instrument interest rate effective percentage     4.33%   4.33%   4.33%    
Percent of original principal amount on effective date used to calculate aggregate annual amount which will amortize in equal quarterly installments 1.00%                
Mandatory prepayments     $ 0 $ 0          
Interest rate, description         Borrowings of Term B-3 Loans bear interest at a fluctuating rate per annum equal to, at SEA’s option, (a) a base rate equal to the higher of (1) the federal funds rate plus 1/2 of 1% and (2) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A. as its “prime rate” or (b) a LIBOR rate determined by reference to the BBA LIBOR rate, or the successor thereto if the BBA is no longer making a LIBOR rate available, for the interest period relevant to such borrowing.        
Debt instrument interest rate selected percentage     4.00%   4.00%        
Term B-3 Loans [Member] | Federal Funds Rate [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans 0.50%                
Term B-3 Loans [Member] | Base Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans 2.25%                
Term B-3 Loans [Member] | LIBOR Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans 3.25%                
Term B-3 Loans [Member] | Minimum [Member] | Base Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Debt instrument interest rate effective percentage     1.75%   1.75%        
Term B-3 Loans [Member] | Minimum [Member] | LIBOR Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Debt instrument interest rate effective percentage     0.75%   0.75%        
Term B-2 Loans [Member]                  
Debt Instrument [Line Items]                  
Debt instrument, balance                 $ 1,405,000,000
Long-term debt, maturity date         May 14, 2020        
Unamortized debt issuance costs and discounts     $ 12,980,000   $ 12,980,000   $ 14,713,000    
Long-term debt     $ 1,331,363,000   $ 1,331,363,000   $ 1,338,387,000    
Debt instrument interest rate effective percentage     3.26%   3.26%   3.26%    
Percent of original principal amount on effective date used to calculate aggregate annual amount which will amortize in equal quarterly installments               1.00%  
Mandatory prepayments     $ 0 $ 0          
Interest rate, description         The Term B-2 Loans were initially borrowed in an aggregate principal amount of $1,405,000. Borrowings under the Senior Secured Credit Facilities bear interest, at SEA’s option, at a rate equal to a margin over either (a) a base rate determined by reference to the higher of (1) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A. as its “prime rate” and (2) the federal funds effective rate plus 1/2 of 1% or (b) a LIBOR rate determined by reference to the British Bankers Association (“BBA”) LIBOR rate, or the successor thereto if the BBA is no longer making a LIBOR rate available, for the interest period relevant to such borrowing.        
Basis point step-down in applicable margin, description         The applicable margin for the Term B-2 Loans (under either a base rate or LIBOR rate) is subject to one 25 basis point step-down upon achievement by SEA of a total net leverage ratio equal to or less than 3.25 to 1.00.        
Basis point step down on applicable margin upon achievement of certain leverage ratio         0.25%        
Maximum Total Leverage Ratio         3.25%        
Debt instrument interest rate selected percentage     3.00%   3.00%        
Term B-2 Loans [Member] | Federal Funds Rate [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans         0.50%        
Term B-2 Loans [Member] | Base Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans         1.25%        
Term B-2 Loans [Member] | LIBOR Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Applicable margin for Term Loans         2.25%        
Term B-2 Loans [Member] | Minimum [Member] | Base Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Debt instrument interest rate effective percentage     1.75%   1.75%        
Term B-2 Loans [Member] | Minimum [Member] | LIBOR Rate Loan [Member]                  
Debt Instrument [Line Items]                  
Debt instrument interest rate effective percentage     0.75%   0.75%        
Senior Notes [Member]                  
Debt Instrument [Line Items]                  
Debt instrument, balance                 $ 400,000,000
Long-term debt, maturity date         Dec. 01, 2016        
Repayment of outstanding principal $ 260,000,000                
Senior Notes [Member] | April 7, 2015                  
Debt Instrument [Line Items]                  
Redemption price for Senior Notes Percentage 105.50%                
Senior Secured Credit Facilities [Member]                  
Debt Instrument [Line Items]                  
Percentage of annual excess cash flow used to prepay outstanding loan         50.00%        
Percentage of net proceeds from sale of non-ordinary assets     100.00%   100.00%        
Percentage of net proceeds incurrence of debt         100.00%        
First lien secured net leverage ratio         3.50%        
Percentage of interest in subsidiary     100.00%   100.00%        
Line of credit facility collateral description         The Senior Secured Credit Facilities are collateralized by first priority or equivalent security interests, subject to certain exceptions, in (i) all the capital stock of, or other equity interests in, SEA and substantially all of SEA’s direct or indirect material wholly-owned domestic subsidiaries and 65% of the capital stock of, or other equity interests in, any “first tier” foreign subsidiaries and (ii) certain tangible and intangible assets of SEA and the Company.        
Percentage of capital stock         65.00%        
Restrictive covenants, description         The Senior Secured Credit Facilities permit restricted payments in an aggregate amount per annum not to exceed the greater of (1) 6% of initial public offering net proceeds received by SEA or (2) (a) $90,000, so long as, on a Pro Forma Basis (as defined in the Senior Secured Credit Facilities) after giving effect to the payment of any such restricted payment, the Total Leverage Ratio, (as defined in the Senior Secured Credit Facilities), is no greater than 5.00 to 1.00 and greater than 4.50 to 1.00, (b) $120,000, so long as, on a Pro Forma Basis after giving effect to the payment of any such restricted payment, the Total Leverage Ratio is no greater than 4.50 to 1.00 and greater than 4.00 to 1.00, (c) the greater of (A) $120,000 and (B) 7.5% of Market Capitalization (as defined in the Senior Secured Credit Facilities), so long as, on a Pro Forma Basis after giving effect to the payment of any such restricted payment, the Total Leverage Ratio is no greater than 4.00 to 1.00 and greater than 3.50 to 1.00 and (d) an unlimited amount, so long as, on a Pro Forma Basis after giving effect to the payment of any such restricted payment, the Total Leverage Ratio is no greater than 3.50 to 1.00.        
Senior Secured Credit Facilities [Member] | Scenario One [Member] | Maximum [Member]                  
Debt Instrument [Line Items]                  
Percentage of annual excess cash flow used to prepay outstanding loan         25.00%        
Senior Secured Credit Facilities [Member] | Scenario One [Member] | Minimum [Member]                  
Debt Instrument [Line Items]                  
Percentage of annual excess cash flow used to prepay outstanding loan         0.00%        
Senior Secured Credit Facilities [Member] | Restrictive Covenants [Member]                  
Debt Instrument [Line Items]                  
Maximum Total Leverage Ratio         5.00%        
Total Leverage Ratio         4.71%