Party City Holdco (PRTYQ) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 13, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	PRTY
Entity Registrant Name	Party City Holdco Inc.
Entity Central Index Key	1,592,058
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		119,318,854

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 33,157	$ 42,919
Accounts receivable, net	116,512	132,287
Inventories, net	585,858	564,259
Prepaid expenses and other current assets	56,533	50,450
Total current assets	792,060	789,915
Property, plant and equipment, net	278,201	272,420
Goodwill	1,584,023	1,562,515
Trade names	568,342	568,712
Other intangible assets, net	85,039	89,157
Other assets, net	6,783	9,684
Total assets	3,314,448	3,292,403
Current liabilities:
Loans and notes payable	181,094	126,136
Accounts payable	97,314	111,616
Accrued expenses	134,531	146,319
Income taxes payable	0	8,504
Current portion of long-term obligations	14,499	14,552
Total current liabilities	427,438	407,127
Long-term obligations, excluding current portion	1,643,738	1,646,121
Deferred income tax liabilities	276,247	276,667
Deferred rent and other long-term liabilities	51,147	49,471
Total liabilities	$ 2,398,570	$ 2,379,386
Commitments and contingencies
Stockholders' equity:
Common stock (119,318,854 and 119,258,374 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively)	$ 1,193	$ 1,193
Additional paid-in capital	905,747	904,425
Retained earnings	39,795	40,189
Accumulated other comprehensive loss	(30,857)	(32,790)
Total stockholders' equity	915,878	913,017
Total liabilities and stockholders' equity	$ 3,314,448	$ 3,292,403

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, shares issued	119,318,854	119,258,374
Common stock, shares outstanding	119,318,854	119,258,374

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Net sales	$ 454,286	$ 458,195
Royalties and franchise fees	3,454	3,910
Total revenues	457,740	462,105
Expenses:
Cost of sales	287,767	294,274
Wholesale selling expenses	15,842	17,125
Retail operating expenses	86,709	80,314
Franchise expenses	3,563	3,459
General and administrative expenses	38,926	37,652
Art and development costs	5,377	5,277
Total expenses	438,184	438,101
Income from operations	19,556	24,004
Interest expense, net	22,652	38,479
Other income, net	(2,978)	(1,421)
Loss before income taxes	(118)	(13,054)
Income tax expense (benefit)	276	(4,529)
Net loss	(394)	(8,525)
Comprehensive income (loss)	$ 1,539	$ (20,852)
Net loss per common share - Basic	$ 0	$ (0.09)
Net loss per common share - Diluted	$ 0	$ (0.09)
Weighted-average number of common shares - Basic	119,291,974	94,096,525
Weighted-average number of common shares - Diluted	119,291,974	94,096,525
Dividends declared per share	$ 0	$ 0

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2015	$ 913,017	$ 1,193	$ 904,425	$ 40,189	$ (32,790)
Balance, Shares at Dec. 31, 2015	119,258,374	119,258,374
Net loss	$ (394)			(394)
Equity based compensation	948		948
Excess tax benefit from stock options	52		52
Exercise of stock options	322		322
Exercise of stock options,Shares		60,480
Foreign currency adjustments	2,650				2,650
Impact of foreign exchange contracts, net of taxes	(717)				(717)
Balance at Mar. 31, 2016	$ 915,878	$ 1,193	$ 905,747	$ 39,795	$ (30,857)
Balance, Shares at Mar. 31, 2016	119,318,854	119,318,854

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows used in operating activities:
Net loss	$ (394)	$ (8,525)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	20,889	20,151
Amortization of deferred financing costs and original issuance discounts	1,274	3,074
Provision for doubtful accounts	160	682
Deferred income tax (benefit) expense	(433)	258
Deferred rent	1,983	1,405
Undistributed loss (gain) in unconsolidated joint venture	147	(91)
Loss (gain) on sale of assets	17	(2,660)
Equity based compensation	948	396
Changes in operating assets and liabilities, net of effects of acquired businesses:
Decrease in accounts receivable	17,628	13,811
(Increase) decrease in inventories	(6,848)	4,280
Increase in prepaid expenses and other current assets	(2,794)	(780)
Decrease in accounts payable, accrued expenses and income taxes payable	(45,233)	(123,122)
Net cash used in operating activities	(12,656)	(91,121)
Cash flows used in investing activities:
Cash paid in connection with acquisitions, net of cash acquired	(28,700)	(8,253)
Capital expenditures	(19,535)	(12,715)
Proceeds from disposal of property and equipment	0	11
Net cash used in investing activities	(48,235)	(20,957)
Cash flows provided by financing activities:
Repayment of loans, notes payable and long-term obligations	(17,652)	(27,431)
Proceeds from loans, notes payable and long-term obligations	68,041	133,100
Cash held in escrow in connection with acquisitions	0	(3,832)
Excess tax benefit from stock options	52	0
Exercise of stock options	322	0
Debt issuance costs	(44)	0
Net cash provided by financing activities	50,719	101,837
Effect of exchange rate changes on cash and cash equivalents	410	(1,134)
Net decrease in cash and cash equivalents	(9,762)	(11,375)
Cash and cash equivalents at beginning of period	42,919	47,214
Cash and cash equivalents at end of period	33,157	35,839
Cash paid during the period
Interest	26,731	58,791
Income taxes, net of refunds	$ 9,368	$ 32,471

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Note 1 – Description of Business Party City Holdco Inc. (the “Company” or “Party City Holdco”) is a vertically integrated supplier of decorated party goods. The Company designs, manufactures, sources and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Company’s retail operations include over 900 specialty retail party supply stores (including approximately 180 franchise stores) in the United States and Canada operating under the names Party City and Halloween City, and e-commerce websites, principally through the domain name PartyCity.com. Party City Holdco franchises both individual stores and franchise areas throughout the United States, Mexico and Puerto Rico, principally under the name Party City. Party City Holdco is a holding company with no operating assets or operations. The Company owns 100% of PC Nextco Holdings, LLC (“PC Nextco”), which owns 100% of PC Intermediate Holdings, Inc. (“PC Intermediate”). PC Intermediate owns 100% of Party City Holdings Inc. (“PCHI”), which owns the Company’s operating subsidiaries. During January 2016, the Company acquired 19 franchise stores located in Arizona and New Mexico for total consideration of approximately $27,500, of which approximately $4,000 will be paid during the three months ended June 30, 2016. Additionally, during March 2016, the Company acquired Festival S.A., a manufacturer of costumes and accessories, for approximately $5,000.

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Recently Issued Accounting Pronouncements	Note 2 – Basis of Presentation and Recently Issued Accounting Pronouncements The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its majority-owned and controlled entities. All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included in the unaudited condensed consolidated financial statements. The majority of our retail operations define a fiscal year (“Fiscal Year”) as the 52-week period or 53-week period ended on the Saturday nearest December 31st of each year and define fiscal quarters (“Fiscal Quarter”) as the four interim 13-week periods following the end of the previous Fiscal Year, except in the case of a 53-week Fiscal Year when the fourth Fiscal Quarter is extended to 14 weeks. The condensed consolidated financial statements of the Company combine the Fiscal Quarters of our retail operations with the calendar quarters of our wholesale operations. The Company has determined the differences between the retail operation’s Fiscal Year and Fiscal Quarters and the calendar year and calendar quarters to be insignificant. Operating results for interim periods are not necessarily indicative of the results to be expected for the year ending December 31, 2016. Our business is subject to substantial seasonal variations as our retail segment has realized a significant portion of its net sales, cash flows and net income in the fourth quarter of each year, principally due to its Halloween season sales in October and, to a lesser extent, other year-end holiday sales. We expect that this general pattern will continue. Our results of operations may also be affected by industry factors that may be specific to a particular period such as movement in and the general level of raw material costs. For further information see the consolidated financial statements, and notes thereto, included in the Company’s Form 10-K for the fiscal year ended December 31, 2015, as filed with the Securities and Exchange Commission on March 11, 2016. Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting”. The pronouncement simplifies several aspects of the accounting for share-based payment transactions. The update is effective for the Company during the first quarter of 2017. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases”. The ASU requires that companies recognize on their balance sheets assets and liabilities for the rights and obligations created by the companies’ leases. The update is effective for the Company during the first quarter of 2019. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities”. The update impacts the accounting for equity investments and the recognition of changes in fair value of financial liabilities when the fair value option is elected. The pronouncement will be effective for the Company during the first quarter of 2018. Although the Company continues to review this pronouncement, it does not believe that it will have a material impact on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, “Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments”. The update requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The Company adopted the update during the three months ended March 31, 2016 and such adoption did not have a material impact on the Company’s consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, “Inventory: Simplifying the Measurement of Inventory”. The update changes the measurement principle for inventory from the lower of cost or market to lower of cost and net realizable value. The pronouncement will be effective for the Company during the first quarter of 2017. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, “Intangibles — Goodwill and Other — Internal-Use Software: Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”. The update amended the guidance on internal use software to clarify how customers in cloud computing arrangements should determine whether the arrangements include software licenses. The Company adopted the update during the three months ended March 31, 2016 and such adoption did not have a material impact on the Company’s consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, “Compensation — Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The update clarifies that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. The Company adopted the update during the three months ended March 31, 2016 and such adoption did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The pronouncement contains a five-step model which replaces most existing revenue recognition guidance. The update is effective for the Company during the first quarter of 2018; however, early adoption is permitted. The pronouncement can be applied retrospectively to prior reporting periods or through a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Note 3 – Inventories Inventories consisted of the following: March 31, 2016 December 31, 2015 Finished goods $ 552,010 $ 532,606 Raw materials 24,121 21,278 Work in process 9,727 10,375 $ 585,858 $ 564,259 Inventories are valued at the lower of cost or market. The Company principally determines the cost of inventory using the weighted average method. The Company estimates retail inventory shortage for the periods between physical inventory dates on a store-by-store basis. Inventory shrinkage estimates can be affected by changes in merchandise mix and changes in actual shortage trends. The shrinkage rate from the most recent physical inventory, in combination with historical experience, is the basis for estimating shrinkage.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 4 – Income Taxes The income tax expense for the three months ended March 31, 2016 was determined based upon the Company’s estimated consolidated effective income tax rate for the year ending December 31, 2016. The difference between the estimated consolidated effective income tax rate for the year ending December 31, 2016 and the U.S. federal statutory rate is primarily attributable to unrecognized foreign tax credits and state income taxes, partially offset by a foreign rate differential and available domestic manufacturing deductions.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	Note 5 – Changes in Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss consisted of the following: Three Months Ended March 31, 2016 Foreign Currency Adjustments Impact of Foreign Exchange Contracts, Net of Taxes Total, Net of Taxes Balance at December 31, 2015 $ (33,401 ) $ 611 $ (32,790 ) Other comprehensive income (loss) before reclassifications, net of income tax 2,650 (514 ) 2,136 Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive income, net of income tax 0 (203 ) (203 ) Net current-period other comprehensive income (loss) 2,650 (717 ) 1,933 Balance at March 31, 2016 $ (30,751 ) $ (106 ) $ (30,857 ) Three Months Ended March 31, 2015 Foreign Currency Adjustments Impact of Foreign Exchange Contracts, Net of Taxes Total, Net of Taxes Balance at December 31, 2014 $ (12,969 ) $ 234 $ (12,735 ) Other comprehensive (loss) income before reclassifications, net of income tax (13,359 ) 1,198 (12,161 ) Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive loss, net of income tax 0 (166 ) (166 ) Net current-period other comprehensive (loss) income (13,359 ) 1,032 (12,327 ) Balance at March 31, 2015 $ (26,328 ) $ 1,266 $ (25,062 )

Capital Stock

Capital Stock	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Capital Stock	Note 6 – Capital Stock At March 31, 2016, the Company’s authorized capital stock consisted of 300,000,000 shares of $0.01 par value common stock.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Note 7 – Segment Information Industry Segments The Company has two identifiable business segments. The Wholesale segment designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Retail segment operates specialty retail party supply stores in the United States and Canada, principally under the names Party City and Halloween City, and it operates e-commerce websites, principally through the domain name Partycity.com. The Retail segment also franchises both individual stores and franchise areas throughout the United States, Mexico and Puerto Rico, principally under the name Party City. The Company’s industry segment data for the three months ended March 31, 2016 and March 31, 2015 was as follows: Wholesale Retail Consolidated Three Months Ended March 31, 2016 Revenues: Net sales $ 259,821 $ 319,556 $ 579,377 Royalties and franchise fees 0 3,454 3,454 Total revenues 259,821 323,010 582,831 Eliminations (125,091 ) 0 (125,091 ) Net revenues $ 134,730 $ 323,010 $ 457,740 Income from operations $ 13,507 $ 6,049 $ 19,556 Interest expense, net 22,652 Other income, net (2,978 ) Loss before income taxes $ (118 ) Wholesale Retail Consolidated Three Months Ended March 31, 2015 Revenues: Net sales $ 250,716 $ 313,272 $ 563,988 Royalties and franchise fees 0 3,910 3,910 Total revenues 250,716 317,182 567,898 Eliminations (105,793 ) 0 (105,793 ) Net revenues $ 144,923 $ 317,182 $ 462,105 Income from operations $ 12,669 $ 11,335 $ 24,004 Interest expense, net 38,479 Other income, net (1,421 ) Loss before income taxes $ (13,054 )

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 – Commitments and Contingencies The Company is a party to certain claims and litigation in the ordinary course of business. The Company does not believe these proceedings will result, individually or in the aggregate, in a material adverse effect on its financial condition or future results of operations. On November 18, 2015, a putative class action complaint was filed in the U.S. District Court for the Southern District of New York, naming Party City Holdco Inc. and certain executives as defendants. An Amended Complaint was filed on April 25, 2016, which named additional defendants. The Amended Complaint alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 in connection with public filings related to the Company’s April 2015 initial public offering (“IPO”). The plaintiff seeks to represent a class of shareholders who purchased stock in the initial public offering or who can trace their shares to that offering. The complaint seeks unspecified damages and costs. The Company intends to vigorously defend itself against this action. The Company is unable, at this time, to determine whether the outcome of the litigation would have a material impact on its results of operations, financial condition or cash flows. On April 5, 2016, a derivative complaint was filed in the Supreme Court for the State of New York, naming certain directors and executives as defendants, and naming the Company as a nominal defendant. The complaint seeks unspecified damages and costs, and corporate governance reforms, for alleged injury to the Company in connection with public filings related to the Company’s April 2015 IPO, compensation paid to executives, and the termination of the management agreement disclosed in the IPO-related public filings. The Company intends to vigorously defend itself against this action. The Company is unable, at this time, to determine whether the outcome of the litigation would have a material impact on its results of operations, financial condition or cash flows.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 9 – Derivative Financial Instruments The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as market risks. The Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed through the use of derivative financial instruments is foreign currency exchange rate risk. Foreign Exchange Risk Management A portion of the Company’s cash flows is derived from transactions denominated in foreign currencies. In order to reduce the uncertainty of foreign exchange rate movements on transactions denominated in foreign currencies, including the British Pound Sterling, the Canadian Dollar, the Euro, the Malaysian Ringgit and the Australian Dollar, the Company enters into foreign exchange contracts with major international financial institutions. These forward contracts, which typically mature within one year, are designed to hedge anticipated foreign currency transactions, primarily inventory purchases and sales. For contracts that qualify for hedge accounting, the terms of the foreign exchange contracts are such that cash flows from the contracts should be highly effective in offsetting the expected cash flows from the underlying forecasted transactions. The foreign currency exchange contracts are reflected in the condensed consolidated balance sheets at fair value. The fair value of the foreign currency exchange contracts is the estimated amount that the counterparties would receive or pay to terminate the foreign currency exchange contracts at the reporting date, taking into account current foreign exchange spot rates. At March 31, 2016 and December 31, 2015, the Company had certain foreign currency exchange contracts that qualified for hedge accounting. No components of these agreements were excluded in the measurement of hedge effectiveness. As these hedges were 100% effective, there was no impact on earnings due to hedge ineffectiveness. The Company anticipates that substantially all unrealized gains and losses in accumulated other comprehensive loss related to these foreign currency exchange contracts will be reclassified into earnings by March 2018. The following table displays the fair values of the Company’s derivatives at March 31, 2016 and December 31, 2015: Derivative Assets Derivative Liabilities Balance Fair Balance Sheet Line Fair Value Balance Sheet Line Fair Value Balance Sheet Line Fair Value Derivative Instrument March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Foreign Exchange Contracts (a) PP $ 420 (a) PP $ 773 (b) AE $ 756 (b) AE $ 391 (a) PP = Prepaid expenses and other current assets (b) AE = Accrued expenses The following table displays the notional amounts of the Company’s derivatives at March 31, 2016 and December 31, 2015: Derivative Instrument March 31, 2016 December 31, 2015 Foreign Exchange Contracts $ 28,271 $ 23,028

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 10 – Fair Value Measurements The provisions of FASB ASC Topic 820, “Fair Value Measurement”, define fair value 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 at the measurement date. ASC Topic 820 established a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table shows assets and liabilities as of March 31, 2016 that are measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total as of March 31, 2016 Derivative assets $ 0 $ 420 $ 0 $ 420 Derivative liabilities 0 756 0 756 The following table shows assets and liabilities as of December 31, 2015 that are measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total as of December 31, 2015 Derivative assets $ 0 $ 773 $ 0 $ 773 Derivative liabilities 0 391 0 391 In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record other assets and liabilities at fair value on a nonrecurring basis, generally as a result of impairment charges. The carrying amounts for cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities approximated fair value at March 31, 2016 because of the short-term maturities of the instruments and/or their variable rates of interest. The carrying amount and fair value of the Company’s borrowings under its $1,340,000 senior secured term loan facility (“Term Loan Credit Agreement”) and its $350,000 of 6.125% senior notes (“Senior Notes”) are as follows: March 31, 2016 Carrying Amount Fair Value Term Loan Credit Agreement $ 1,312,006 $ 1,324,967 Senior Notes 343,927 360,500 The fair values of the Term Loan Credit Agreement and the Senior Notes represent Level 2 fair value measurements as the debt instruments trade in inactive markets. The carrying amounts for other long-term debt approximated fair value at March 31, 2016 based on the discounted future cash flows of each instrument at rates currently offered for similar debt instruments of comparable maturity.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 11 – Earnings Per Share Basic earnings per share are computed by dividing net income available for common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share are calculated based on the weighted average number of outstanding common shares plus the dilutive effect of stock options as if they were exercised. A reconciliation between basic and diluted income (loss) per share is as follows: Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Net loss $ (394 ) $ (8,525 ) Weighted average shares – Basic 119,291,974 94,096,525 Effect of dilutive securities: Stock options 0 0 Weighted average shares – Diluted 119,291,974 94,096,525 Net loss per common share – Basic $ (0.00 ) $ (0.09 ) Net loss per common share – Diluted $ (0.00 ) $ (0.09 ) During the three months ended March 31, 2016 and March 31, 2015, 4,404,404 stock options and 2,559,200 stock options, respectively, were excluded from the calculation of net loss per common share — diluted as they were anti-dilutive.

Long-Term Obligations

Long-Term Obligations	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Obligations	Note 12 – Long-Term Obligations Long-term obligations at March 31, 2016 and December 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 Term Loan Credit Agreement $ 1,312,006 $ 1,314,538 Capital lease obligations 2,304 2,414 Senior Notes 343,927 343,721 Total long-term obligations 1,658,237 1,660,673 Less: current portion (14,499 ) (14,552 ) Long-term obligations, excluding current portion $ 1,643,738 $ 1,646,121

Basis of Presentation and Rec19

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting”. The pronouncement simplifies several aspects of the accounting for share-based payment transactions. The update is effective for the Company during the first quarter of 2017. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases”. The ASU requires that companies recognize on their balance sheets assets and liabilities for the rights and obligations created by the companies’ leases. The update is effective for the Company during the first quarter of 2019. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities”. The update impacts the accounting for equity investments and the recognition of changes in fair value of financial liabilities when the fair value option is elected. The pronouncement will be effective for the Company during the first quarter of 2018. Although the Company continues to review this pronouncement, it does not believe that it will have a material impact on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, “Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments”. The update requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The Company adopted the update during the three months ended March 31, 2016 and such adoption did not have a material impact on the Company’s consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, “Inventory: Simplifying the Measurement of Inventory”. The update changes the measurement principle for inventory from the lower of cost or market to lower of cost and net realizable value. The pronouncement will be effective for the Company during the first quarter of 2017. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, “Intangibles — Goodwill and Other — Internal-Use Software: Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”. The update amended the guidance on internal use software to clarify how customers in cloud computing arrangements should determine whether the arrangements include software licenses. The Company adopted the update during the three months ended March 31, 2016 and such adoption did not have a material impact on the Company’s consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, “Compensation — Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The update clarifies that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. The Company adopted the update during the three months ended March 31, 2016 and such adoption did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The pronouncement contains a five-step model which replaces most existing revenue recognition guidance. The update is effective for the Company during the first quarter of 2018; however, early adoption is permitted. The pronouncement can be applied retrospectively to prior reporting periods or through a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of the pronouncement on the Company’s consolidated financial statements.
Inventories	Inventories are valued at the lower of cost or market. The Company principally determines the cost of inventory using the weighted average method.
Industry Segments	Industry Segments The Company has two identifiable business segments. The Wholesale segment designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Retail segment operates specialty retail party supply stores in the United States and Canada, principally under the names Party City and Halloween City, and it operates e-commerce websites, principally through the domain name Partycity.com. The Retail segment also franchises both individual stores and franchise areas throughout the United States, Mexico and Puerto Rico, principally under the name Party City.
Derivatives	The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as market risks. The Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed through the use of derivative financial instruments is foreign currency exchange rate risk. Foreign Exchange Risk Management A portion of the Company’s cash flows is derived from transactions denominated in foreign currencies. In order to reduce the uncertainty of foreign exchange rate movements on transactions denominated in foreign currencies, including the British Pound Sterling, the Canadian Dollar, the Euro, the Malaysian Ringgit and the Australian Dollar, the Company enters into foreign exchange contracts with major international financial institutions. These forward contracts, which typically mature within one year, are designed to hedge anticipated foreign currency transactions, primarily inventory purchases and sales. For contracts that qualify for hedge accounting, the terms of the foreign exchange contracts are such that cash flows from the contracts should be highly effective in offsetting the expected cash flows from the underlying forecasted transactions. The foreign currency exchange contracts are reflected in the condensed consolidated balance sheets at fair value. The fair value of the foreign currency exchange contracts is the estimated amount that the counterparties would receive or pay to terminate the foreign currency exchange contracts at the reporting date, taking into account current foreign exchange spot rates. At March 31, 2016 and December 31, 2015, the Company had certain foreign currency exchange contracts that qualified for hedge accounting. No components of these agreements were excluded in the measurement of hedge effectiveness. As these hedges were 100% effective, there was no impact on earnings due to hedge ineffectiveness. The Company anticipates that substantially all unrealized gains and losses in accumulated other comprehensive loss related to these foreign currency exchange contracts will be reclassified into earnings by March 2018.
Fair Value Measurement	The provisions of FASB ASC Topic 820, “Fair Value Measurement”, define fair value 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 at the measurement date. ASC Topic 820 established a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: March 31, 2016 December 31, 2015 Finished goods $ 552,010 $ 532,606 Raw materials 24,121 21,278 Work in process 9,727 10,375 $ 585,858 $ 564,259

Changes in Accumulated Other 21

Changes in Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss consisted of the following: Three Months Ended March 31, 2016 Foreign Currency Adjustments Impact of Foreign Exchange Contracts, Net of Taxes Total, Net of Taxes Balance at December 31, 2015 $ (33,401 ) $ 611 $ (32,790 ) Other comprehensive income (loss) before reclassifications, net of income tax 2,650 (514 ) 2,136 Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive income, net of income tax 0 (203 ) (203 ) Net current-period other comprehensive income (loss) 2,650 (717 ) 1,933 Balance at March 31, 2016 $ (30,751 ) $ (106 ) $ (30,857 ) Three Months Ended March 31, 2015 Foreign Currency Adjustments Impact of Foreign Exchange Contracts, Net of Taxes Total, Net of Taxes Balance at December 31, 2014 $ (12,969 ) $ 234 $ (12,735 ) Other comprehensive (loss) income before reclassifications, net of income tax (13,359 ) 1,198 (12,161 ) Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive loss, net of income tax 0 (166 ) (166 ) Net current-period other comprehensive (loss) income (13,359 ) 1,032 (12,327 ) Balance at March 31, 2015 $ (26,328 ) $ 1,266 $ (25,062 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Company's Industry Segment Data	The Company’s industry segment data for the three months ended March 31, 2016 and March 31, 2015 was as follows: Wholesale Retail Consolidated Three Months Ended March 31, 2016 Revenues: Net sales $ 259,821 $ 319,556 $ 579,377 Royalties and franchise fees 0 3,454 3,454 Total revenues 259,821 323,010 582,831 Eliminations (125,091 ) 0 (125,091 ) Net revenues $ 134,730 $ 323,010 $ 457,740 Income from operations $ 13,507 $ 6,049 $ 19,556 Interest expense, net 22,652 Other income, net (2,978 ) Loss before income taxes $ (118 ) Wholesale Retail Consolidated Three Months Ended March 31, 2015 Revenues: Net sales $ 250,716 $ 313,272 $ 563,988 Royalties and franchise fees 0 3,910 3,910 Total revenues 250,716 317,182 567,898 Eliminations (105,793 ) 0 (105,793 ) Net revenues $ 144,923 $ 317,182 $ 462,105 Income from operations $ 12,669 $ 11,335 $ 24,004 Interest expense, net 38,479 Other income, net (1,421 ) Loss before income taxes $ (13,054 )

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of Derivatives	The following table displays the fair values of the Company’s derivatives at March 31, 2016 and December 31, 2015: Derivative Assets Derivative Liabilities Balance Fair Balance Sheet Line Fair Value Balance Sheet Line Fair Value Balance Sheet Line Fair Value Derivative Instrument March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Foreign Exchange Contracts (a) PP $ 420 (a) PP $ 773 (b) AE $ 756 (b) AE $ 391 (a) PP = Prepaid expenses and other current assets (b) AE = Accrued expenses
Schedule of Notional Amounts of Derivatives	The following table displays the notional amounts of the Company’s derivatives at March 31, 2016 and December 31, 2015: Derivative Instrument March 31, 2016 December 31, 2015 Foreign Exchange Contracts $ 28,271 $ 23,028

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table shows assets and liabilities as of March 31, 2016 that are measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total as of March 31, 2016 Derivative assets $ 0 $ 420 $ 0 $ 420 Derivative liabilities 0 756 0 756 The following table shows assets and liabilities as of December 31, 2015 that are measured at fair value on a recurring basis: Level 1 Level 2 Level 3 Total as of December 31, 2015 Derivative assets $ 0 $ 773 $ 0 $ 773 Derivative liabilities 0 391 0 391
Summary of Carrying Amount and Fair Value	The carrying amount and fair value of the Company’s borrowings under its $1,340,000 senior secured term loan facility (“Term Loan Credit Agreement”) and its $350,000 of 6.125% senior notes (“Senior Notes”) are as follows: March 31, 2016 Carrying Amount Fair Value Term Loan Credit Agreement $ 1,312,006 $ 1,324,967 Senior Notes 343,927 360,500

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Reconciliation Between Basic and Diluted Income (Loss) Per Share	A reconciliation between basic and diluted income (loss) per share is as follows: Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Net loss $ (394 ) $ (8,525 ) Weighted average shares – Basic 119,291,974 94,096,525 Effect of dilutive securities: Stock options 0 0 Weighted average shares – Diluted 119,291,974 94,096,525 Net loss per common share – Basic $ (0.00 ) $ (0.09 ) Net loss per common share – Diluted $ (0.00 ) $ (0.09 )

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Summary of Long-Term Obligations	Long-term obligations at March 31, 2016 and December 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 Term Loan Credit Agreement $ 1,312,006 $ 1,314,538 Capital lease obligations 2,304 2,414 Senior Notes 343,927 343,721 Total long-term obligations 1,658,237 1,660,673 Less: current portion (14,499 ) (14,552 ) Long-term obligations, excluding current portion $ 1,643,738 $ 1,646,121

Description of Business - Addit

Description of Business - Additional Information (Detail) $ in Thousands	1 Months Ended		3 Months Ended
	Mar. 31, 2016USD ($)Store	Jan. 31, 2016USD ($)Franchised_Stores	Jun. 30, 2016USD ($)	Mar. 31, 2016Store
Festival S A [Member]
Basis Of Presentation [Line Items]
Total consideration amount	$ 5,000
PC Nextco [Member]
Basis Of Presentation [Line Items]
Ownership percentage				100.00%
United States and Canada [Member]
Basis Of Presentation [Line Items]
Number of specialty retail party supply stores | Store	900			900
Number of franchise stores included in retail operation | Store	180			180
Arizona and New Mexico [Member]
Basis Of Presentation [Line Items]
Number of franchise stores acquired | Franchised_Stores		19
Total consideration amount		$ 27,500
Arizona and New Mexico [Member] | Scenario, Forecast [Member]
Basis Of Presentation [Line Items]
Total consideration amount paid			$ 4,000
Subsidiaries [Member] | Reportable Legal Entity Pc Intermediate Holdings Inc [Member]
Basis Of Presentation [Line Items]
Ownership percentage				100.00%
Indirect Subsidiaries [Member] | Party City Holdings Inc [Member]
Basis Of Presentation [Line Items]
Ownership percentage				100.00%

Basis of Presentation and Rec28

Basis of Presentation and Recently Issued Accounting Pronouncements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Minimum [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Retail operations period of fiscal year	52 Weeks
Retail operations period of fiscal quarter	13 Weeks
Maximum [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Retail operations period of fiscal year	53 Weeks
Retail operations period of fiscal quarter	14 Weeks

Inventories - Inventories (Deta

Inventories - Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 552,010	$ 532,606
Raw materials	24,121	21,278
Work in process	9,727	10,375
Inventories, net	$ 585,858	$ 564,259

Changes in Accumulated Other 30

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated and Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (32,790)	$ (12,735)
Other comprehensive income (loss) before reclassifications, net of income tax	2,136	(12,161)
Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive income (loss), net of income tax	(203)	(166)
Net current-period other comprehensive income (loss)	1,933	(12,327)
Ending balance	(30,857)	(25,062)
Foreign Currency Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(33,401)	(12,969)
Other comprehensive income (loss) before reclassifications, net of income tax	2,650	(13,359)
Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive income (loss), net of income tax	0	0
Net current-period other comprehensive income (loss)	2,650	(13,359)
Ending balance	(30,751)	(26,328)
Impact of Foreign Exchange Contracts, Net of Taxes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	611	234
Other comprehensive income (loss) before reclassifications, net of income tax	(514)	1,198
Amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statement of operations and comprehensive income (loss), net of income tax	(203)	(166)
Net current-period other comprehensive income (loss)	(717)	1,032
Ending balance	$ (106)	$ 1,266

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail)	Mar. 31, 2016$ / sharesshares
Equity [Abstract]
Authorized capital stock | shares	300,000,000
Common stock, par value | $ / shares	$ 0.01

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016Segment
Segment Reporting [Abstract]
Number of business segments	2

Segment Information - Schedule

Segment Information - Schedule of Company's Industry Segment Data (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Net sales	$ 454,286	$ 458,195
Royalties and franchise fees	3,454	3,910
Total revenues	457,740	462,105
Income from operations	19,556	24,004
Interest expense, net	22,652	38,479
Other income, net	(2,978)	(1,421)
Loss before income taxes	(118)	(13,054)
Wholesale [Member]
Revenues:
Total revenues	134,730	144,923
Income from operations	13,507	12,669
Retail [Member]
Revenues:
Total revenues	323,010	317,182
Income from operations	6,049	11,335
Operating Segments [Member]
Revenues:
Net sales	579,377	563,988
Royalties and franchise fees	3,454	3,910
Total revenues	582,831	567,898
Operating Segments [Member] | Wholesale [Member]
Revenues:
Net sales	259,821	250,716
Royalties and franchise fees	0	0
Total revenues	259,821	250,716
Operating Segments [Member] | Retail [Member]
Revenues:
Net sales	319,556	313,272
Royalties and franchise fees	3,454	3,910
Total revenues	323,010	317,182
Eliminations [Member]
Revenues:
Total revenues	(125,091)	(105,793)
Eliminations [Member] | Wholesale [Member]
Revenues:
Total revenues	(125,091)	(105,793)
Eliminations [Member] | Retail [Member]
Revenues:
Total revenues	$ 0	$ 0

Derivative Financial Instrume34

Derivative Financial Instruments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Derivative [Line Items]
Foreign currency exchange contracts reclassified date	2018-03
Foreign Exchange Risk Management [Member]
Derivative [Line Items]
Foreign exchange forward contracts maturity	1 year
Hedging effectiveness	100.00%

Derivative Financial Instrume35

Derivative Financial Instruments - Schedule of Fair Values of Derivatives (Detail) - Foreign Exchange Contracts [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets	$ 420	$ 773
Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 756	$ 391

Derivative Financial Instrume36

Derivative Financial Instruments - Schedule of Notional Amounts of Derivatives (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Notional amounts	$ 28,271,000	$ 23,028,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 420	$ 773
Derivative liabilities	756	391
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	420	773
Derivative liabilities	756	391
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	$ 343,927
Notes issued rate	6.125%
Term Loan Credit Agreement [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Senior secured term loan facility	$ 1,340,000
Debt Instrument Carrying Amount	$ 1,312,006

Fair Value Measurements - Sum39

Fair Value Measurements - Summary of Carrying Amount and Fair Value (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	$ 343,927
Debt Instrument Fair Value	360,500
Term Loan Credit Agreement [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	1,312,006
Debt Instrument Fair Value	$ 1,324,967

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation Between Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net loss	$ (394)	$ (8,525)
Weighted average shares - Basic	119,291,974	94,096,525
Effect of dilutive securities:
Stock options	0	0
Weighted average shares - Diluted	119,291,974	94,096,525
Net loss per common share - Basic	$ 0	$ (0.09)
Net loss per common share - Diluted	$ 0	$ (0.09)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Stock Option [Member]
Earnings Per Share Basic And Diluted [Line Items]
Antidilutive securities excluded from calculation of earnings per share	4,404,404	2,559,200

Long-Term Obligations - Summary

Long-Term Obligations - Summary of Long-Term Obligations (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total long-term obligations	$ 1,658,237	$ 1,660,673
Less: current portion	(14,499)	(14,552)
Long-term obligations, excluding current portion	1,643,738	1,646,121
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Total long-term obligations	2,304	2,414
Senior Notes [Member]
Debt Instrument [Line Items]
Total long-term obligations	343,927	343,721
Term Loan Credit Agreement [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Total long-term obligations	$ 1,312,006	$ 1,314,538