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Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Summary of Long-Term Debt

Long-term debt as of September 30, 2019 and December 31, 2018 consisted of the following:

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Term B-5 Loans (effective interest rate of 5.04% and 5.52% at

   September 30, 2019 and December 31, 2018, respectively)

 

$

1,511,760

 

 

$

1,523,389

 

Revolving credit facility (effective interest rate of 4.68% and

   5.17% at September 30, 2019 and December 31, 2018, respectively)

 

 

50,000

 

 

 

30,000

 

Total long-term debt

 

 

1,561,760

 

 

 

1,553,389

 

Less: discounts

 

 

(5,214

)

 

 

(6,564

)

Less: debt issuance costs

 

 

(5,369

)

 

 

(6,641

)

Less: current maturities, including revolving credit facility

 

 

(65,505

)

 

 

(45,505

)

Total long-term debt, net

 

$

1,485,672

 

 

$

1,494,679

 

 

Summary of Long-Term Debt Repayable

Long-term debt at September 30, 2019 is repayable as follows, and does not include the impact of any future voluntary prepayments. The outstanding balance under the Revolving Credit Facility is included below based on the Company’s intent to repay the borrowings.

Years Ending December 31:

 

(In thousands)

 

Remainder of 2019

 

$

13,878

 

2020

 

 

55,505

 

2021

 

 

15,505

 

2022

 

 

15,505

 

2023

 

 

15,505

 

Thereafter

 

 

1,445,862

 

Total

 

$

1,561,760