Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Components of Long-term debt

Long-term debt consisted of the following:

	As of December 31,
(in thousands)	2019		2018
Revolving credit facility	$	—	$	—
Senior unsecured notes, due in 2025	400,000		400,000
Senior unsecured notes, due in 2027	500,000		—
Term loan, due in 2024	293,250		296,250
Term loan, due in 2026	759,272		—
Total outstanding principal	1,952,522		696,250
Less: Debt issuance costs and issuance discounts	(37,492)		(7,486)
Less: Current portion	(10,612)		(3,000)
Net carrying value of long-term debt	1,904,418		685,764
Fair value of long-term debt *	$	1,991,164	$	662,844

* 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.