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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on recurring basis
The table below presents the balances of assets and liabilities measured at fair value as of December 31, 2019 and December 31, 2018 on a recurring basis as well as the fair values of other financial instruments:
(In thousands)
 
 
 
 
December 31, 2019
 
December 31, 2018
 
Consolidated Balance Sheet Location
Fair Value Hierarchy Level
 
Carrying Value
Fair Value
 
Carrying Value
Fair Value
Financial assets (liabilities) measured on a recurring basis:
 
 
 
 
 
 
Short-term investments
 
Other current assets
Level 1
 
$
275

$
275

 
$
511

$
511

Interest rate swaps
 
Derivative Liability (2)
Level 2
 
$
(23,237
)
$
(23,237
)
 
$
(6,705
)
$
(6,705
)
Other financial assets (liabilities):
 
 
 
 
 
 
Term debt
 
Long-Term Debt (1)
Level 2
 
$
(721,875
)
$
(725,484
)
 
$
(729,375
)
$
(707,494
)
2024 senior notes
 
Long-Term Debt (1)
Level 1
 
$
(450,000
)
$
(462,375
)
 
$
(450,000
)
$
(441,000
)
2027 senior notes
 
Long-Term Debt (1)
Level 1
 
$
(500,000
)
$
(535,000
)
 
$
(500,000
)
$
(475,000
)
2029 senior notes
 
Long-Term Debt (1)
Level 2
 
$
(500,000
)
$
(539,375
)
 
—

—

(1)
Carrying values of long-term debt balances are before reductions of debt issuance costs and original issue discount of $26.0 million and $21.8 million as of December 31, 2019 and December 31, 2018, respectively.
(2)
As of December 31, 2019, $5.1 million of the fair value of our swap portfolio was classified as current and recorded in "Other accrued liabilities".