Long‑Term Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Long‑term debt consists of the following:

	March 31, 2023		December 31, 2022
Credit facility:
Revolving loan facility due November 2025	$	239,613	$	345,597
Term loan due November 2025	193,750		195,000
Convertible senior notes due January 2026 (the “2026 Notes”)	687,830		687,830
Convertible senior notes due July 2027 (the “2027 Notes”)	575,000		575,000
Unamortized debt issuance costs	(21,162)		(22,731)
Total debt	1,675,031		1,780,696
Less: Current portion of long-term debt	(6,250)		(5,000)
Long-term debt	$	1,668,781	$	1,775,696

The Company had $150 of letters of credit and surety bonds outstanding as of March 31, 2023 and December 31, 2022 under the credit facility. As of March 31, 2023 and December 31, 2022, the Company had $610,237 and $504,253, respectively, available under the credit facility.

As of March 31, 2023 and December 31, 2022, the Company was in compliance with all debt covenants and none of the conditions of the 2026 Notes or 2027 Notes to early convert had been met.

Interest Expense, Net

Interest expense, net consists of the following:

	Three Months Ended
	March 31,
	2023		2022
Contractual interest expense	$	(9,310)	$	(4,047)
Amortization of deferred debt issuance costs	(1,823)		(1,778)
Other interest expense	(188)		(1,005)
Interest income	229		82
Interest expense, net	$	(11,092)	$	(6,748)

The Company’s revolving loan facility and term loan weighted average interest rate was 6.67% and 2.32% for the three months ended March 31, 2023 and 2022, respectively.