XML 50 R36.htm IDEA: XBRL DOCUMENT v3.22.0.1
INDEBTEDNESS (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Summary of Debt
Long-term debt consisted of the following as of December 31, 2021 (in thousands):
Principal AmountDiscountDebt Issuance CostsNet Balance
ABL Facility$— $— $— $— 
First Lien Term Loan600,000 (9,605)(13,331)577,064 
Senior Notes500,000 — (11,164)488,836 
$1,100,000 $(9,605)$(24,495)1,065,900 
Less: current portion(6,000)
Total long-term debt$1,059,900 
Long-term debt consisted of the following as of December 31, 2020 (in thousands):
Principal AmountDiscountDebt Issuance CostsNet Balance
ABL Facility$— $— $— $— 
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
2022$6,000 
20236,000 
20246,000 
20256,000 
20266,000 
2027 and beyond1,070,000 
Total$1,100,000 
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, 2021 (in thousands):
Financial InstrumentCarrying Value as of December 31, 2021Markets for Identical Item (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
First Lien Note Facility$577,064 $— $598,500 $— 
Senior Notes488,836 — 501,250 — 
Total debt instruments$1,065,900 $— $1,099,750 $— 

The following table sets forth the changes in Level 3 measurements for the year ended December 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$266,438 
Principal prepayment(245,781)
Change in fair value(20,657)
Second Lien Notes fair value as of December 31, 2021$—