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Long-Term and Other Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of debt outstanding
The following reflects outstanding debt as of the dates indicated below:
 
 
As of December 31,
 
 
2017
 
2016
 
 
Final Maturity
 
Rate(s)
 
Face Value
 
Unamortized debt discount/premium and deferred financing costs, net
 
Book Value
 
Book Value
Senior Secured Credit Facilities:
 
 
 
 
 
 
 
 
 
 
 
 
Revolver, varying interest rate
 
2018
 
variable

 
$
100.5

 
$
—

 
$
100.5

 
$
45.0

Revolver, varying interest rate
 
2020
 
variable

 
249.5

 
—

 
249.5

 
—

Term Loan B-1
 
2020
 
variable

 
—

 
—

 
—

 
2,183.5

Term Loan B-2
 
2021
 
variable

 
—

 
—

 
—

 
1,905.8

Term Loan B-4
 
2024
 
variable

 
3,274.6

 
(81.0
)
 
3,193.6

 
—

Senior Notes:
 
 
 
 
 
 
 
 
 
 
 
 
2022 Secured Notes
 
2022
 
7.000
%
 
2,100.0

 
30.7

 
2,130.7

 
936.3

2025 Secured Notes
 
2025
 
5.000
%
 
350.0

 
(6.3
)
 
343.7

 
—

Unsecured Notes
 
2022
 
10.000
%
 
2,200.0

 
(29.9
)
 
2,170.1

 
2,164.0

Subordinated Notes:
 
 
 
 
 
 
 
 
 
 
 
 
2018 Notes
 
2018
 
8.125
%
 
—

 
—

 
—

 
248.7

2020 Notes
 
2020
 
6.250
%
 
243.5

 
(1.7
)
 
241.8

 
241.2

2021 Notes
 
2021
 
6.625
%
 
340.6

 
(4.6
)
 
336.0

 
334.5

Capital lease obligations, 3.9% as of December 31, 2017 payable monthly through 2019
 
2019
 
3.900
%
 
10.7

 
—

 
10.7

 
15.2

Total long-term debt outstanding
 
 
 
 
 
$
8,869.4

 
$
(92.8
)
 
$
8,776.6

 
$
8,074.2

Less: current portion of long-term debt
 
 
 
 
 

 

 
(40.3
)
 
(49.3
)
Long-term debt, excluding current portion
 
 
 
 
 

 

 
$
8,736.3

 
$
8,024.9

Fair value of debt (1)
 
 
 
 
 
$
9,251.5

 
 
 
 
 


(1) Fair value of our fixed rate and variable interest rate debt is classified within level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.
Schedule of debt and capital lease payments due over the next five years and beyond
The following reflects the principal amount of debt and capital lease payments due over the next five years and beyond as of December 31, 2017:
 
 
Total
 
2018
 
2019
 
2020(1)
 
2021
 
2022
 
After 2022
Senior Secured Credit Facilities
 
$
3,624.6

 
$
32.8

 
$
32.8

 
$
382.8

 
$
32.8

 
$
32.8

 
$
3,110.6

Senior Notes
 
4,650.0

 
—

 
—

 
—

 
—

 
4,300.0

 
350.0

Subordinated Notes
 
584.1

 
—

 
—

 
243.5

 
340.6

 
—

 
—

Capital lease obligations, payable monthly through 2019
 
10.7

 
7.7

 
3.0

 
—

 
—

 
—

 
—

Total long-term debt outstanding
 
$
8,869.4

 
$
40.5

 
$
35.8

 
$
626.3

 
$
373.4

 
$
4,332.8

 
$
3,460.6

Unamortized deferred financing costs and discount/premium
 
(92.8
)
 
 
 
 
 
 
 
 
 
 
 
 
Total debt book value
 
$
8,776.6

 
 

 
 

 
 

 
 

 
 

 
 

(1) Reflects portion of revolver balance under non-extended commitments rolling under extended commitments if still outstanding on October 18, 2018 and given current revolver capacity.
Schedule of components of extinguishment and modification of debt
The following are components of the (loss) gain on debt financing transactions resulting from debt extinguishment and modification accounting:
 
Years Ended December 31,
 
2017
 
2016
 
2015
Repurchase and cancellation of principal balance at discount
$
—

 
$
26.0

 
$
—

Unamortized debt discount and deferred financing costs
(26.4
)
 
(0.8
)
 
—

Third party debt issuance fees
(11.7
)
 
—

 
—

Total (loss) gain on debt financing transactions
$
(38.1
)
 
$
25.2

 
$
—