Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Estimated Useful Lives of Real Estate Investments

Leased real estate and leasehold improvements are depreciated on a straight-line basis over the following estimated useful lives:



Buildings and building improvements	20 to 40 years
Land improvements	10 to 20 years
Fixtures and integral equipment	3 to 20 years

Schedule of Fair Value of Other Financial Instruments

The following table summarizes the fair value of the Company’s other financial instruments:



	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets:
Derivative asset - interest rate swaps	$	1,879	$	—	$	1,879	$	—
	$	1,879	$	—	$	1,879	$	—

Liabilities:
Senior secured credit facility:
Senior secured term loan A facility	$	291,769	$	—	$	291,769	$	—
Senior secured term loan B facility	1,863,759		—		1,863,759		—
Senior secured revolving credit facility	—		—		—		—
$1,050 million 5.625% senior notes, due 2024	1,102,500		—		1,102,500		—
$500 million 4.50% senior notes, due 2026	482,500		—		482,500		—
	$	3,740,528	$	—	$	3,740,528	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details