Quarterly report pursuant to Section 13 or 15(d)

Long-term Debt

v3.19.3
Long-term Debt
 9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Long-term Debt
13. Long-term Debt:
The summary of long-term debt is as follows:
 
 
September 30,
2019
 
December 31, 2018
Term Loan Facility
 
$
1,057,497

 
$
1,157,498

6.75% Senior Secured Notes due 2022
 
625,000

 
625,000

5.75% Senior Unsecured Notes due 2025
 
295,000

 
300,000

ABL Facility
 
—

 
—

Other
 
65,778

 
65,925

Total debt
 
2,043,275

 
2,148,423

Original issue discount
 
(15,331
)
 
(18,584
)
Deferred financing costs
 
(13,017
)
 
(15,882
)
Total debt, net of original issue discount and deferred financing costs
 
2,014,927

 
2,113,957

Less: current portion
 
(8,210
)
 
(7,237
)
Total long-term debt, excluding current portion
 
$
2,006,717

 
$
2,106,720

 
 
 
 
 

The fair value of a financial instrument is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. As of September 30, 2019 and December 31, 2018, the fair value of the term loan facility and senior secured and unsecured notes was $2,009,555 and $2,010,023, respectively. The fair value is classified as Level 2 based upon the fair value hierarchy (see Note 4 to these condensed consolidated financial statements for further information on fair value measurements).
Term Loan Facility
During the quarter ended September 30, 2019, the Company prepaid $100,000 of outstanding principal balance on the Term Loan Facility. The Company wrote off $502 of previously unamortized deferred financing costs and original issue discount of $1,181 as debt extinguishment costs related to the Term Loan Facility for the three months ended September 30, 2019.