LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following (in thousands):

	December 31, 2022				December 31, 2021
	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
ABL Revolver	$	—	—		$	—	—
Term Loan B	428,133		411,008		326,700		325,883
Total Debt	428,133		411,008		326,700		325,883
Less: Current maturities	(4,369)		(4,194)		(3,300)		(3,292)
Total Long-term Debt	$	423,764	$	406,814	$	323,400	$	322,591

(1) Carrying value amount does not include unamortized debt issuance costs of $14.6 million and $8.0 million for years ended December 31, 2022 and December 31, 2021 respectively.

Schedule of Secured Leverage Ratio to EBITDA

Secured Leverage Ratio – The Term Loan B Agreement requires that the Company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of unrestricted cash, not to exceed $150 million) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2022, is either equal to or less than as indicated in the table below:

Fiscal Quarter	Secured Leverage Ratio
December 31, 2022	5.00:1:00
March 31, 2023	5.00:1:00
June 30, 2023 and each Fiscal Quarter thereafter	4.75:1:00

Schedule of Interest Rate on Borrowings Outstanding

The interest rates on our borrowings outstanding at December 31, 2022 and 2021, including the amortization of debt issuance costs, are as follows:

	December 31,
	2022		2021
ABL Revolver	7.75	%	1.85	%
Term Loan B	9.95	%	5.75	%
Weighted average interest rate	9.95	%	5.75	%

Schedule of Maturities of Long-term Debt

As of December 31, 2022, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):

Year	$ Amount
2023	$	4,369
2024	4,369
2025	4,369
2026	4,369
Thereafter	410,657
Total	$	428,133