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Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Components of Long-term debt
Long-term debt consisted of the following:
(in thousands)
 
As of 
 June 30, 
 2016
 
As of 
 December 31, 
 2015
 
 
 
 
 
Variable rate credit facility
 
$
—

 
$
—

Term loan
 
392,500

 
394,500

Debt issuance costs on term loan
 
(2,987
)
 
(3,325
)
Net term loan
 
389,513

 
391,175

Unsecured subordinated notes payable
 
7,968

 
7,968

Long-term debt
 
397,481


399,143

Current portion of long-term debt
 
6,656

 
6,656

Long-term debt (less current portion)
 
$
390,825

 
$
392,487

Fair value of long-term debt *
 
$
399,241

 
$
396,576


* Fair value of the term loan was estimated based on quoted private market transactions and is classified as Level 1 in the fair value hierarchy. The fair value of the unsecured promissory notes is determined based on a discounted cash flow analysis using current market interest rates of comparable instruments and is classified as Level 2 in the fair value hierarchy.