Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

Debt

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

	June 30,		December 31,
	2024		2023
Bank credit facility - term loan	$	292,500	$	300,000
Bank credit facility - revolving facility	174,000		133,000
Principal amount of long-term debt	466,500		433,000
Less: debt issuance costs	(2,992)		(3,656)
Total long-term debt	463,508		429,344
Less: current portion	(30,000)		(22,500)
Long-term debt, less current portion	$	433,508	$	406,844

Borrowings under our term loan and revolving facility mature in October 2026. As of June 30, 2024, the interest rate on our outstanding term loan borrowings and weighted average interest rate on our aggregate outstanding revolving facility was 8.18% and 8.20%, respectively. We had letters of credit outstanding of $0.8 million as of June 30, 2024 and December 31, 2023.

Future required term loan and revolving facility payments as of June 30, 2024 are as follows (in thousands):

Year Ending	Term Loan		Revolving Facility		Total
Remainder of 2024	$	15,000	$	—	$	15,000
2025	30,000		—		30,000
2026	247,500		174,000		421,500
Total	$	292,500	$	174,000	$	466,500

We were in compliance with required ratios and other terms and conditions under our credit agreement as of June 30, 2024.