INDEBTEDNESS (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Debt

Long-term debt consisted of the following as of December 31, 2020 (in thousands):

	Principal Amount		Discount		Debt Issuance Costs		Net Balance
ABL Facility	$	—	$	—	$	—	$	—
First Lien Term Loan	915,750		(7,253)		(19,710)		888,787
Second Lien Notes	245,781		(6,102)		(4,113)		235,566
	$	1,161,531	$	(13,355)	$	(23,823)	1,124,353
Less: current portion							(9,250)
Total long-term debt							$	1,115,103

Long-term debt consisted of the following as of December 31, 2019 (in thousands):

	Principal Amount		Discount		Debt Issuance Costs		Net Balance
ABL Facility	$	—	$	—	$	—	$	—
First Lien Term Loan	925,000		(8,399)		(22,825)		893,776
Second Lien Notes	412,256		(11,672)		(7,864)		392,720
	$	1,337,256	$	(20,071)	$	(30,689)	1,286,496
Less: current portion							(9,250)
Total long-term debt							$	1,277,246

Schedule of Long-term Debt Maturities

Long-term debt matures as follows (in thousands):

Year Ending December 31,	Minimum Payments
2021	$	9,250
2022	9,250
2023	9,250
2024	9,250
2025	9,250
2026 and beyond	1,115,281
Total	$	1,161,531

Schedule of Estimated Fair Values of Debt Obligations

The following table presents the estimated fair values of the Company’s debt obligations as of December 31, 2020 (in thousands):

Financial Instrument	Carrying Value as of December 31, 2020		Markets for Identical Item (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
First Lien Note Facility	$	888,787	$	—	$	913,461	$	—
Second Lien Note Facility	235,566		—		—		266,438
Total debt instruments	$	1,124,353	$	—	$	913,461	$	266,438

The following table sets forth the changes in Level 3 measurements for the year ended December 31, 2020 (in thousands):

	Level 3 Measurements
Second Lien Notes fair value as of January 1, 2020	$	411,119
Principal prepayment	(174,000)
Interest rate PIK	7,525
Change in fair value	21,794
Second Lien Notes fair value as of December 31, 2020	$	266,438