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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value of Financial Instruments [Abstract]  
Schedule of Indefinite-lived Assets

 

 

 

 

Balance at January 1, 2019

    

$

624,985

Additions

 

 

82

Impairment charges

 

 

(33,109)

Balance at December 31, 2019

 

$

591,958

 


 

 

 

 

Balance at January 1, 2018

    

$

660,789

Additions

 

 

216

Impairment charges

 

 

(17,899)

Reclassified to finite-lived intangible assets

 

 

(6,951)

Sale of trademarks

 

 

(11,170)

Ending balance at December 31, 2018

 

$

624,985

 

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table sets forth the carrying value and the fair value of the Company’s financial assets and liabilities required to be disclosed at December 31, 2019 and 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying Value

 

Fair Value

Financial Instrument

    

Level

    

12/31/2019

    

12/31/2018

    

12/31/2019

    

12/31/2018

 

 

(in thousands)

Equity securities

 

 1

 

$

47

 

$

627

 

$

47

 

$

627

Interest rate swaps - liability

 

 2

 

$

6,514

 

$

2,019

 

$

6,514

 

$

2,019

Term loans

 

 2

 

$

453,831

 

$

519,850

 

$

451,483

 

$

515,742

Revolving loan

 

 2

 

$

14,358

 

$

115,000

 

$

14,323

 

$

114,827

 

Schedule of Notional Amounts of Outstanding Derivative Positions

The components of the 2018 Swap Agreements as of December 31, 2019 are as follows:

 

 

 

 

 

 

 

 

 

 

 

    

Notional Value

    

Derivative Asset

    

Derivative Liability

 

 

(in thousands)

LIBOR based loans

 

$

300,000

 

$

 —

 

$

6,514