Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Components of Long-term debt

Long-term debt consisted of the following:

	As of December 31,
(in thousands)	2019			2018
Revolving credit facility	$	—		$	—
Senior unsecured notes, due in 2025	400,000			400,000
Senior unsecured notes, due in 2027	500,000			—
Term loan, due in 2024	293,250			296,250
Term loan, due in 2026	759,272			—
Total outstanding principal	1,952,522			696,250
Less: Debt issuance costs and issuance discounts	(37,492		)	(7,486		)
Less: Current portion	(10,612		)	(3,000		)
Net carrying value of long-term debt	1,904,418			685,764
Fair value of long-term debt *	$	1,991,164		$	662,844

* Fair values of the 2025 and 2027 Senior Notes are estimated based on quoted private market transactions and are classified as Level 1 in the fair value hierarchy. The fair values of the term loans are based on observable estimates provided by third party financial professionals, and as such, are classified within Level 2 of the fair value hierarchy.