DEBT (Tables)

3 Months Ended

Mar. 31, 2025

DEBT

Summary of Debt and Finance Lease Obligations

The Company’s debt and finance lease obligations at March 31, 2025 and December 31, 2024 consisted of (in thousands):

	March 31,		December 31,
	2025		2024
$700M Revolving Credit Facility, interest at SOFR plus 1.50%, maturing May 18, 2027	$	—	$	—
Term Loan B, interest at SOFR plus 2.00%, maturing May 18, 2030		292,057		292,791
Senior Notes, interest at 4.75%, maturing October 15, 2027		700,000		700,000
Senior Notes, interest at 7.25%, maturing July 15, 2028		400,000		400,000
Senior Notes, interest at 4.50%, maturing February 15, 2029		600,000		600,000
Senior Notes, interest at 6.50%, maturing April 1, 2032		1,000,000		1,000,000
$80M OEG Revolver, interest at SOFR plus 3.50%, maturing June 28, 2029		17,000		21,000
OEG Term Loan, interest at SOFR plus 3.50%, maturing June 28, 2031 (see Note 16)		298,500		299,250
Block 21 CMBS Loan, interest at 5.58%, original maturity January 5, 2026 (see Note 16)		128,185		128,967
Finance lease obligations		268		55
Unamortized deferred financing costs		(49,359)		(51,484)
Unamortized discounts and premiums, net		(11,625)		(12,183)
Total debt	$	3,375,026	$	3,378,396

Schedule of Fair Value of the Company's Derivative Financial Instruments

The estimated fair value of the Company’s derivative financial instruments at March 31, 2025 and December 31, 2024 is as follows (in thousands):

							Estimated Fair Value
							Asset (Liability) Balance
		Strike			Notional		March 31,		December 31,
Hedged Debt	Type	Rate	Index	Maturity Date	Amount		2025		2024
OEG Term Loan	Interest Rate Swap	4.5330%	3-month SOFR	December 18, 2025		100,000	$	(346)	$	(386)
							$	(346)	$	(386)

Summary of Effect of Derivative Financial Instruments on the Accompanying Consolidated Statements of Operations

The effect of the Company’s derivative financial instruments on the accompanying condensed consolidated statements of operations for the respective periods is as follows (in thousands):

	Amount of Gain (Loss)					Amount of (Gain) Loss
	Recognized in OCI on					Reclassified from Accumulated
	Derivatives				Location of Gain (Loss)	OCI into Income (Expense)
	Three Months Ended				Reclassified from	Three Months Ended
	March 31,				Accumulated OCI	March 31,
	2025		2024		into Income (Expense)	2025		2024
Derivatives in Cash Flow Hedging Relationships:
Interest rate swaps	$	(8)	$	1,975	Interest expense	$	48	$	547
Total derivatives	$	(8)	$	1,975		$	48	$	547