Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.24.2.u1
Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2024
Long-Term Debt  
Reconciliation of principal balance of outstanding debt

The following table reconciles the principal balances of our outstanding debt to our condensed consolidated balance sheets, in thousands:

As of

June 30, 2024

    

December 31, 2023

3.625% Senior Notes due 2029

$

400,000

$

400,000

4.125% Senior Notes due 2032

500,000

500,000

Term loan due 2026

510,000

532,500

Equipment notes

665

2,039

Unamortized debt issuance costs

(13,031)

(14,472)

Total debt, net of unamortized debt issuance costs

1,397,634

1,420,067

Less: current portion of long-term debt

45,665

47,039

Total long-term debt

$

1,351,969

$

1,373,028

Schedule of remaining principal payments of debt

The following table sets forth our remaining principal payments for our outstanding debt balances as of June 30, 2024, in thousands:

2024

2025

2026

2027

2028

Thereafter

Total

3.625% Senior Notes

$

-

$

-

$

-

$

-

$

-

$

400,000

$

400,000

4.125% Senior Notes

-

-

-

-

-

500,000

500,000

Term loan

22,500

48,750

438,750

-

-

-

510,000

Equipment notes

665

-

-

-

-

-

665

Total

$

23,165

$

48,750

$

438,750

$

-

$

-

$

900,000

$

1,410,665

Summary of key terms of the Credit Agreement

The following table outlines the key terms of the Credit Agreement (dollars in thousands):

Senior secured term loan facility

$

600,000

Revolving facility (a)

$

500,000

Sublimit for issuance of letters of credit under revolving facility

$

100,000

Sublimit for swingline loans under revolving facility

$

35,000

Interest rate as of June 30, 2024

6.44

%

Scheduled maturity date

10/7/2026

(a) Use of the sublimits for the issuance of letters of credit and swingline loans reduces the availability under the revolving facility.

Schedule of availability under the Revolving Facility

The following table summarizes our availability under the revolving facility, in thousands:

As of

June 30, 2024

    

December 31, 2023

Revolving facility

$

500,000

$

500,000

Less: standby letters of credit

(63,770)

(63,770)

Availability under revolving facility

$

436,230

$

436,230

Schedule of the key financial covenants

As of June 30, 2024

Maximum Net Leverage Ratio

3.50:1.00

Minimum Interest Coverage Ratio

3.00:1.00

Compliance as of period end

In Compliance