XML 103 R85.htm IDEA: XBRL DOCUMENT v3.25.0.1
INDEBTEDNESS (NARRATIVE) (Details) - USD ($)
$ in Thousands
12 Months Ended
Feb. 26, 2024
Apr. 03, 2023
Dec. 31, 2024
Dec. 31, 2023
Credit facility interest rate     7.50% 6.70%
Long-Term Line of Credit, Noncurrent     $ 975,000 $ 995,000
Line of Credit Facility, Average Outstanding Amount     1,050,300 $ 1,072,400
Line of Credit Facility, Remaining Borrowing Capacity     225,000  
Letters Of Credit Issued Outside Line Of Credit Facility     300  
Line Of Credit Facility Letters Of Credit Issued     $ 200  
Seventh Amendment [Member]        
Line of Credit Facility, Initiation Date   Apr. 03, 2023    
Line of Credit Facility, Description     On April 3, 2023, the Company entered into a Seventh Amendment to the Credit Agreement which replaces the use of LIBOR with SOFR as of the date of the amendment, and, therefore, will affect the interest rates paid for a portion of the Credit Facility starting in the second quarter of 2023.  
Eighth Amendment [Member]        
Line of Credit Facility, Initiation Date Feb. 26, 2024      
Line of Credit Facility, Current Borrowing Capacity $ 1,300,000      
Line of Credit Facility, Commitment Fee Description the quarter ending March 31, 2025, from the current 3.5 to 1 to between 4.0 to 1 and 4.5 to 1, as may be applicable in different quarters; and to reduce the total lenders’ commitment from $1.5 billion to $1.3 billion.      
Ninth Amendment [Member]        
Line of Credit Facility, Description     On August 8, 2024, the Company entered into a Ninth Amendment to the Credit Agreement (the “Ninth Amendment”) to, among other things, provide for less restrictive financial covenants in respect of the leverage ratio and the interest coverage ratio for the period beginning with the third quarter of 2024 through the first quarter of 2026 (the “Covenant Adjustment Period”). Specifically, the revisions permit a maximum leverage ratio of up to 5.15 to 1.00 and a minimum interest coverage ratio of not less than 2.00 to 1.00 as of the end the third quarter of 2024, with such levels gradually becoming more restrictive during subsequent quarters of the Covenant Adjustment Period and returning to a leverage ratio of 3.50 to 1.00 as of the end of the first quarter of 2026. Pursuant to the Ninth Amendment, the Company agreed to permanently reduce the total lenders’ commitment from $1.3 billion to $1.2 billion and to provide certain additional assets as collateral, with the effect that the facility is now secured by substantially all personal property assets of the Company and its subsidiaries. In addition, the Company agreed, to certain other changes, including, among others, (i) increased pricing on borrowings and increased facility fees, in each case, determined according to the Company’s leverage ratio, (ii) more restrictive limitations in respect of debt, liens, investments, acquisitions, asset sales and restricted payments, and (iii) requirements to apply certain equity and debt issuances and asset sale proceeds to the prepayment of the facility and permanent reduction of the total facility commitment amount. The term of the Credit Facility remained unchanged through November 23, 2026.  
Line of Credit Facility, Collateral     Letter of credit fees are one eighth of 1% of the stated amount of the letter of credit on the date of issuance, renewal or amendment, plus an annual fee equal to the borrowing margin for SOFR loans.  
Maximum [Member] | Ninth Amendment [Member]        
Line of Credit Facility, Maximum Borrowing Capacity     $ 1,200,000