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Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Components of Long-term debt
Long-term debt consisted of the following:
(in thousands)As of 
June 30, 
2020
As of 
December 31, 
2019
Revolving credit facility$50,000  $—  
Senior unsecured notes, due in 2025400,000  400,000  
Senior unsecured notes, due in 2027500,000  500,000  
Term loan, due in 2024291,750  293,250  
Term loan, due in 2026755,466  759,272  
    Total outstanding principal1,997,216  1,952,522  
Less: Debt issuance costs and issuance discounts(34,557) (37,492) 
Less: Current portion(10,612) (10,612) 
   Net carrying value of long-term debt$1,952,047  $1,904,418  
Fair value of long-term debt *$1,899,320  $1,991,164  
* Fair values of the 2025 and 2027 Senior Notes are estimated based on quoted private market transactions and are classified as Level 1 in the fair value hierarchy. The fair values of the term loans are based on observable estimates provided by third party financial professionals, and as such, are classified within Level 2 of the fair value hierarchy.