Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present our (liabilities) assets that are required to be measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 (in thousands):

			Fair Value at Reporting Date Using
	March 31, 2020		Level 1		Level 2		Level 3
Derivatives (1)
Foreign currency forward contracts	$	(8,988)	$	—	$	(8,988)	$	—
Interest rate swap contracts	(30,190)		—		(30,190)		—
Total	$	(39,178)	$	—	$	(39,178)	$	—

			Fair Value at Reporting Date Using
	December 31, 2019		Level 1		Level 2		Level 3
Derivatives (1)
Foreign currency forward contracts	$	1,953	$	—	$	1,953	$	—
Interest rate swap contracts	(14,938)		—		(14,938)		—
Total	$	(12,985)	$	—	$	(12,985)	$	—

⁽¹⁾ See Note 7. Derivatives for further detail.

Schedule of Fair Value and Carrying Value of Debt

The following table presents the fair value and carrying value of our senior notes and borrowings under our senior secured credit facilities as of March 31, 2020 and December 31, 2019 (in thousands):

	Fair Value at				Carrying Value at (1)
Financial Instrument	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Term Loan A	$	444,974	$	485,106	$	469,199	$	483,317
Term Loan B	1,564,065		1,856,100		1,834,306		1,838,741
Revolver, $400 million	375,000		—		375,000		—
5.375% Senior secured notes due 2023	485,499		543,536		530,000		530,000
5.25% Senior secured notes due 2023	460,358		514,670		500,000		500,000

⁽¹⁾ Excludes net unamortized debt issuance costs.