Long-term debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt was comprised of the following:

						As of September 30, 2022
	September 30, 2022		December 31, 2021		Maturity date	Interest rate		Estimated fair value(1)
Senior Secured Credit Facilities:
Term Loan A	$	1,531,250	$	1,596,875	8/12/2024	LIBOR+1.75%		$	1,500,625
Term Loan B-1	2,667,689		2,688,263		8/12/2026	LIBOR+1.75%		$	2,530,970
Revolving line of credit	275,000		—		8/12/2024	LIBOR+1.75%		$	275,000
Senior Notes:
4.625% Senior Notes	2,750,000		2,750,000		6/1/2030	4.625	%	$	2,124,375
3.75% Senior Notes	1,500,000		1,500,000		2/15/2031	3.75	%	$	1,068,750
Acquisition obligations and other notes payable(2)	125,809		130,599		2022-2036	5.82	%	$	125,809
Financing lease obligations(3)	279,213		299,128		2023-2038	4.53	%
Total debt principal outstanding	9,128,961		8,964,865
Discount, premium and deferred financing costs(4)	(47,520)		(56,685)
	9,081,441		8,908,180
Less current portion	(214,254)		(179,030)
	$	8,867,187	$	8,729,150

(1)For the Company's senior secured credit facilities and senior notes, fair value estimates are based upon bid and ask quotes, typically a level 2 input. For acquisition obligations and other notes payable, the carrying values presented approximate their estimated fair values, based on estimates of their present values using level 2 interest rate inputs.

(2)The interest rate presented for acquisition obligations and other notes payable is their weighted average interest rate based on the current fixed and variable interest rate components in effect as of September 30, 2022.

(3)Financing lease obligations are measured at their approximate present values at inception. The interest rate presented is the weighted average discount rate embedded in financing leases outstanding.

(4)As of September 30, 2022, the carrying amount of the Company's senior secured credit facilities have been reduced by a discount of $3,740 and deferred financing costs of $20,891, and the carrying amount of the Company's senior notes have been reduced by deferred financing costs of $37,380 and increased by a debt premium of $14,491. As of December 31, 2021, the carrying amount of the Company's senior secured credit facilities were reduced by a discount of $4,473 and deferred financing costs of $27,207, and the carrying amount of the Company's senior notes were reduced by deferred financing costs of $40,914 and increased by a debt premium of $15,909.

Schedule of Derivative Instruments

The following table summarizes the Company’s interest rate cap agreements outstanding as of September 30, 2022 and December 31, 2021, which are classified in "Other long-term assets" on its consolidated balance sheet: 

						Nine months ended September 30, 2022				Fair value
	Notional amount		LIBOR maximum rate	Effective date	Expiration date	Debt expense		Recorded OCI gain		September 30, 2022		December 31, 2021
2019 cap agreements	$	3,500,000	2.00%	6/30/2020	6/30/2024	$	1,497	$	127,460	$	139,663	$	12,203