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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of interest rate cap
The Company’s interest rate cap contract is recorded at its fair value in the consolidated balance sheets on a recurring basis. The fair value of the interest rate cap contract is based upon a model-derived valuation using observable market inputs, such as interest rates and interest rate volatility, and the strike price.
December 31,
Financial InstrumentBalance Sheet ClassificationLevel20222023
(in thousands)
Asset:
Interest rate cap contract, current portionCurrent portion of interest rate cap contractLevel 2$74,857 $58,962 
Interest rate cap contract, non-current portionInterest rate cap contract, net of current portionLevel 245,200 — 
Schedule of long-term debt
The Company does not measure its indebtedness at fair value in its consolidated balance sheets. The fair value of the credit facilities is based on quoted market prices for this debt in the syndicated loan market. The fair value of the senior notes is based on quoted market prices. The carrying value of the Company’s other debt, as disclosed in Note 11 – Long-Term Debt and Notes Payable, approximates fair value.
December 31, 2022December 31, 2023
Financial InstrumentLevelCarrying ValueFair ValueCarrying ValueFair Value
(in thousands)
6.250% senior notes
Level 2$1,235,607 $1,163,689 $1,232,596 $1,228,063 
Credit facilities:
Revolving facilityLevel 2445,000 443,331 280,000 278,600 
Term loanLevel 22,094,290 2,056,110 2,077,216 2,092,485