Long-term debt (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Debt Disclosure [Abstract] |
|
| Long-term Debt |
Long-term debt was comprised of the following:
|
|
|
September 30, |
|
|
December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
Senior secured credit facilities: |
|
|
|
|
|
|
|
|
|
Term Loan A |
|
$ |
881,250 |
|
|
$ |
925,000 |
|
|
Term Loan B |
|
|
3,421,250 |
|
|
|
3,447,500 |
|
|
Senior notes |
|
|
4,500,000 |
|
|
|
4,500,000 |
|
|
Acquisition obligations and other notes payable |
|
|
111,407 |
|
|
|
70,645 |
|
|
Capital lease obligations |
|
|
294,746 |
|
|
|
283,185 |
|
|
Total debt principal outstanding |
|
|
9,208,653 |
|
|
|
9,226,330 |
|
|
Discount and deferred financing costs |
|
|
(83,887 |
) |
|
|
(95,985 |
) |
|
|
|
|
9,124,766 |
|
|
|
9,130,345 |
|
|
Less current portion |
|
|
(152,764 |
) |
|
|
(129,037 |
) |
|
|
|
$ |
8,972,002 |
|
|
$ |
9,001,308 |
|
|
| Scheduled Maturities of Long-term Debt |
Scheduled maturities of long-term debt at September 30, 2016 were as follows:
|
2016 (remainder of the year) |
|
|
40,607 |
|
|
2017 |
|
|
154,000 |
|
|
2018 |
|
|
167,798 |
|
|
2019 |
|
|
743,687 |
|
|
2020 |
|
|
68,156 |
|
|
2021 |
|
|
3,299,551 |
|
|
Thereafter |
|
|
4,734,854 |
|
|
| Derivative Instruments |
The following table summarizes the Company’s derivative instruments as of September 30, 2016 and December 31, 2015:
|
|
|
September 30, 2016 |
|
|
December 31, 2015 |
|
|
Derivatives designated as hedging instruments |
|
Balance sheet location |
|
Fair value |
|
|
Balance sheet location |
|
Fair value |
|
|
Interest rate swap agreements |
|
Other short-term liabilities |
|
$ |
— |
|
|
Other short-term assets |
|
$ |
516 |
|
|
Interest rate cap agreements |
|
Other long-term assets |
|
$ |
2,453 |
|
|
Other long-term assets |
|
$ |
15,127 |
|
|
| Effects of Interest Rate Swap and Cap Agreements |
The following table summarizes the effects of the Company’s interest rate swap and cap agreements for the three and nine months ended September 30, 2016 and 2015:
|
|
|
Amount of gains (losses) |
|
|
|
|
Amount of losses |
|
|
|
|
recognized in OCI on interest |
|
|
|
|
reclassified from |
|
|
|
|
rate swap and cap agreements |
|
|
Location of |
|
accumulated OCI into income |
|
|
|
|
Three months ended |
|
|
Nine months ended |
|
|
losses reclassified |
|
Three months ended |
|
|
Nine months ended |
|
|
|
|
September 30, |
|
|
September 30, |
|
|
from accumulated |
|
September 30, |
|
|
September 30, |
|
|
Derivatives designated as cash flow hedges |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
OCI into income |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
Interest rate swap agreements |
|
$ |
45 |
|
|
$ |
(1,128 |
) |
|
$ |
(815 |
) |
|
$ |
(4,798 |
) |
|
Debt expense |
|
$ |
(25 |
) |
|
$ |
(655 |
) |
|
$ |
(299 |
) |
|
$ |
(2,061 |
) |
|
Interest rate cap agreements |
|
|
(300 |
) |
|
|
(1,909 |
) |
|
|
(12,674 |
) |
|
|
(11,715 |
) |
|
Debt expense |
|
|
(609 |
) |
|
|
(609 |
) |
|
|
(1,829 |
) |
|
|
(1,829 |
) |
|
Tax benefit |
|
|
102 |
|
|
|
1,186 |
|
|
|
5,251 |
|
|
|
6,449 |
|
|
|
|
|
246 |
|
|
|
493 |
|
|
|
827 |
|
|
|
1,518 |
|
|
Total |
|
$ |
(153 |
) |
|
$ |
(1,851 |
) |
|
$ |
(8,238 |
) |
|
$ |
(10,064 |
) |
|
|
|
$ |
(388 |
) |
|
$ |
(771 |
) |
|
$ |
(1,301 |
) |
|
$ |
(2,372 |
) |
|