Short-term and Long-term Debt

3 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Short-term and Long-term Debt

10. Short-term and Long-term Debt

During the three months ended December 31, 2024, the Company and other parties to the ABL facility entered into a fifth amendment which, among other things, extended the maturity date to December 11, 2029, improved certain covenant terms, and slightly increased our commitment fee to 0.25% from 0.20%. At December 31, 2024, there were no outstanding borrowings under our ABL facility, and we had $482.7 million available for borrowing, including under our Canadian sub-facility, subject to a borrowing base limitation, as reduced by outstanding letters of credit. In connection with the amendment, we incurred approximately $1.5 million in debt issuance costs that are being amortized over the remaining life of the ABL facility.

Additionally, during the three months ended December 31, 2024, we voluntarily repaid $40.0 million of outstanding Term Loan B principle. In connection with the repayment, we recognized a $0.4 million loss on debt extinguishment within interest expense related to unamortized debt issuance costs.