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Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Components of Long-term debt
Long-term debt consisted of the following:
(in thousands)
 
As of 
 June 30, 
 2017
 
As of 
 December 31, 
 2016
 
 
 
 
 
Variable rate credit facility
 
$
—

 
$
—

Senior unsecured notes
 
400,000

 
—

Term loan B
 
—

 
390,521

Unsecured subordinated notes
 
5,312

 
5,312

    Total outstanding principal
 
405,312

 
395,833

Less: Debt issuance costs
 
(7,057
)
 
(2,648
)
Less: Current portion
 
(2,656
)
 
(6,571
)
   Net carrying value of long-term debt
 
$
395,599

 
$
386,614

Fair value of long-term debt *
 
$
420,122

 
$
395,514


* Fair value of the Senior Notes and the term loan B were estimated based on quoted private market transactions and is classified as Level 1 in the fair value hierarchy. The fair value of the unsecured subordinated notes is determined based on a discounted cash flow analysis using current market interest rates of comparable instruments and is classified as Level 2 in the fair value hierarchy.