Accounts Receivable Securitization (Tables)

12 Months Ended

Dec. 31, 2025

Transfers and Servicing of Financial Assets [Abstract]

Accounts Receivable Securitization [Table Text Block]

The following table summarizes the key terms of the 2025 RPA (dollars in thousands):

		2025 RPA
	(Dollars in thousands)
Effective date		December 31, 2025
Final maturity date		October 2, 2028
Facility capacity		$575,000
Unused commitment fee rate 1		20 to 40 basis points
Program fees on outstanding capital 2		one month SOFR + 87.5 basis points or commercial paper + 77.5 basis points

1The commitment fee rates are based on the percentage of the maximum facility capacity utilized.

2As identified within the 2025 RPA, the Purchasers can trigger an amendment by identifying and deciding upon a replacement index for SOFR.

As of December, 31 2025, availability under the 2025 RPA was calculated as follows:

	December 31,
	2025
	(In thousands)
Facility capacity, based on eligible receivables	$	499,300
Less: cash received from receivables sold	(478,200)
Availability under 2025 RPA	$	21,100

The following table summarizes the key terms of the 2025 RSA (dollars in thousands):

		2025 RSA
	(Dollars in thousands)
Effective date		October 1, 2025
Final maturity date		October 2, 2028
Borrowing capacity		$575,000
Accordion option 1		$100,000
Unused commitment fee rate 2		20 to 40 basis points
Program fees on outstanding balances 3		one month SOFR + 87.5 basis points or commercial paper + 77.5 basis points

1The accordion option increases the maximum borrowing capacity, subject to participation by the purchasers.

2The commitment fee rates are based on the percentage of the maximum borrowing capacity utilized.

3As identified within the 2025 RSA, the lender can trigger an amendment by identifying and deciding upon a replacement index for SOFR.

As of December, 31 2024, availability under the 2023 RSA, which was subsequently replaced by the 2025 RSA on October 1, 2025, was calculated as follows:

	December 31,
	2024
	(In thousands)
Borrowing base, based on eligible receivables	$	500,700
Less: outstanding borrowings 1	(459,200)
Less: outstanding letters of credit	(27,167)
Availability under accounts receivable securitization facilities	$	14,333

1As of December 31, 2024, outstanding borrowings are included in "Accounts receivable securitization – current portion" in the consolidated balance sheets and are offset by $0.2 million of deferred loan costs. Interest accrued on the aggregate principal balance of the 2023 RSA at a rate of 5.5%, as of December 31, 2024.