DEBT (Tables)

6 Months Ended

Jun. 30, 2025

DEBT

Summary of Debt and Finance Lease Obligations

The Company’s debt and finance lease obligations at June 30, 2025 and December 31, 2024 consisted of (in thousands):

	June 30,		December 31,
	2025		2024
$700M Revolving Credit Facility, interest at SOFR plus 1.45%, maturing May 18, 2027	$	—	$	—
Term Loan B, interest at SOFR plus 2.00%, maturing May 18, 2030		291,324		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
Senior Notes, interest at 6.50%, maturing June 15, 2033		625,000		—
$80M OEG Revolver, interest at SOFR plus 3.25%, maturing June 28, 2029		—		21,000
OEG Term Loan, interest at SOFR plus 3.50%, maturing June 28, 2031		427,423		299,250
Block 21 CMBS Loan, interest at 5.58%, original maturity January 5, 2026		—		128,967
Finance lease obligations		785		55
Unamortized deferred financing costs		(57,018)		(51,484)
Unamortized discounts and premiums, net		(12,301)		(12,183)
Total debt	$	3,975,213	$	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 June 30, 2025 and December 31, 2024 is as follows (in thousands):

							Estimated Fair Value
							Asset (Liability) Balance
		Strike			Notional		June 30,		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	$	(179)	$	(386)
							$	(179)	$	(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					Reclassified from Accumulated
	on Derivatives				Location of Gain (Loss)	OCI into Income (Expense)
	Three Months Ended				Reclassified from	Three Months Ended
	June 30,				Accumulated OCI	June 30,
	2025		2024		into Income (Expense)	2025		2024
Derivatives in Cash Flow Hedging Relationships:
Interest rate swaps	$	108	$	351	Interest expense	$	58	$	202
Total derivatives	$	108	$	351		$	58	$	202

	Amount of Gain (Loss)					Amount of (Gain) Loss
	Recognized in OCI on					Reclassified from Accumulated
	Derivatives				Location of Gain (Loss)	OCI into Income (Expense)
	Six Months Ended				Reclassified from	Six Months Ended
	June 30,				Accumulated OCI	June 30,
	2025		2024		into Income (Expense)	2025		2024
Derivatives in Cash Flow Hedging Relationships:
Interest rate swaps	$	100	$	2,326	Interest expense	$	106	$	749
Total derivatives	$	100	$	2,326		$	106	$	749