INDEBTEDNESS (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Summary of Debt

Long-term debt consisted of the following as of March 31, 2021 (in thousands):

	Principal Amount		Discount		Debt Issuance Costs		Net Balance
ABL facility	$	—	$	—	$	—	$	—
First lien term loan	1,162,806		(9,560)		(20,328)		1,132,918
Second lien notes	—		—		—		—
	$	1,162,806	$	(9,560)	$	(20,328)	1,132,918
Less: current portion							(11,775)
Total long-term debt							$	1,121,143

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

Schedule of Long-term Debt Maturities

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

Year Ending December 31,	Minimum Payments
2021	$	8,831
2022	11,775
2023	11,775
2024	11,775
2025	11,775
Thereafter	1,106,875
Total	1,162,806

Schedule of Estimated Fair Values of Debt Obligations

The following table presents the estimated fair values of the Company’s debt obligations as of March 31, 2021 (in thousands):

Financial Instrument	Carrying Value as of March 31, 2021		Markets for Identical Item (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
First lien term loan	$	1,132,918	$	—	$	1,158,504	$	—
Second lien notes	—		—		—		—
Total debt instruments	$	1,132,918	$	—	$	1,158,504	$	—

The following table sets forth the changes in Level 3 measurements for the three months ended March 31, 2021 (in thousands):

	Level 3 Measurements
Second lien notes fair value as of January 1, 2021	$	266,438
Principal prepayment	(245,781)
Change in fair value	(20,657)
Second lien notes fair value as of March 31, 2021	$	—