Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following as of June 30, 2019 and December 31, 2018:

	June 30, 2019			December 31, 2018
	(In thousands)
Senior Secured Revolving Credit Facility due 2022		$841,328			$744,431
6.25% Senior Notes due 2023	650,000			650,000
Unamortized debt issuance costs for 6.25% Senior Notes	(6,180		)	(6,878		)
8.25% Senior Notes due 2025	250,000			250,000
Unamortized debt issuance costs for 8.25% Senior Notes	(3,730		)	(3,962		)
Long-term debt		$1,731,418			$1,633,591

Interest and Commitment Fee Rates

Borrowings outstanding under the credit agreement bear interest at the Company’s option at either (i) a base rate for a base rate loan plus the margin set forth in the table below, where the base rate is defined as the greatest of the prime rate, the federal funds rate plus 0.50% and the adjusted LIBO rate plus 1.00%, or (ii) an adjusted LIBO rate for a Eurodollar loan plus the margin set forth in the table below. The Company also incurs commitment fees at rates as set forth in the table below on the unused portion of lender commitments, which are included in “Interest expense, net” in the consolidated statements of income.

Ratio of Outstanding Borrowings to Lender Commitments	Applicable Margin for Base Rate Loans	Applicable Margin for Eurodollar Loans	Commitment Fee
Less than 25%	0.25%	1.25%	0.375%
Greater than or equal to 25% but less than 50%	0.50%	1.50%	0.375%
Greater than or equal to 50% but less than 75%	0.75%	1.75%	0.500%
Greater than or equal to 75% but less than 90%	1.00%	2.00%	0.500%
Greater than or equal to 90%	1.25%	2.25%	0.500%