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INDEBTEDNESS (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Summary of Debt
Long-term debt consisted of the following as of September 30, 2021 (in thousands):
Principal AmountDiscountDebt Issuance CostsNet Balance
Asset-based-lending (“ABL”) facility$— $— $— $— 
First lien term loan1,156,919 (8,731)(18,590)1,129,598 
Second lien notes— — — — 
$1,156,919 $(8,731)$(18,590)1,129,598 
Less: current portion(11,775)
Total long-term debt$1,117,823 
Long-term debt consisted of the following as of December 31, 2020 (in thousands):
Principal AmountDiscountDebt Issuance CostsNet Balance
ABL facility$— $— $— $— 
First lien term loan915,750 (7,253)(19,710)888,787 
Second lien notes245,781 (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$2,944 
202211,775 
202311,775 
202411,775 
202511,775 
Thereafter1,106,875 
Total$1,156,919 
Schedule of Estimated Fair Values of Debt Obligations
The following table presents the estimated fair values of the Company’s debt obligations as of September 30, 2021 (in thousands):
Financial Instrument
Carrying Value as of September 30, 2021
Markets for Identical Item (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
First lien term loan$1,129,598 $— $1,156,919 $— 
Second lien notes— — — — 
Total debt instruments$1,129,598 $— $1,156,919 $— 
The following table sets forth the changes in Level 3 measurements for the three months ended March 31, 2021 (in thousands). As the Second Lien Notes were prepaid in Q1, there was no change in the fair value thereafter.
Level 3 Measurements
Second lien notes fair value as of January 1, 2021$266,438 
Principal prepayment(245,781)
Change in fair value(20,657)
Second lien notes fair value as of March 31, 2021$—