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Debt (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt

The following table presents the components of long-term debt in the unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023.

 

 

September 30,

 

 

December 31,

 

 

Interest Rate

 

Effective Interest Rate

(in thousands)

 

2024

 

 

2023

 

 

2024

 

2023

 

2024

 

2023

Term Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Due July 2026

 

$

624,693

 

 

$

630,680

 

 

7.66%

 

7.77%

 

8.06%

 

8.17%

Due December 2028

 

 

367,496

 

 

 

371,028

 

 

7.66%

 

7.77%

 

7.99%

 

8.10%

Term loan principal outstanding

 

 

992,189

 

 

 

1,001,708

 

 

 

 

 

 

 

 

 

Unamortized debt issuance costs

 

 

(6,777

)

 

 

(8,753

)

 

 

 

 

 

 

 

 

Unamortized debt discount

 

 

(2,751

)

 

 

(3,686

)

 

 

 

 

 

 

 

 

Long-term debt, net

 

$

982,661

 

 

$

989,269

 

 

 

 

 

 

 

 

 

Schedule of Components of Interest Expense and Other Financing Costs

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

(in thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Interest expense

 

$

19,431

 

 

$

19,457

 

 

$

58,096

 

 

$

55,140

 

Amortization of debt issuance costs

 

 

776

 

 

 

762

 

 

 

2,333

 

 

 

2,266

 

Amortization of debt discount

 

 

302

 

 

 

305

 

 

 

905

 

 

 

905

 

Interest rate swap (income) expense

 

 

 

 

 

(5,115

)

 

 

 

 

 

(14,004

)

Amortization of deferred gain on terminated interest rate swap

 

 

(4,200

)

 

 

 

 

 

(12,509

)

 

 

 

Other

 

 

105

 

 

 

171

 

 

 

354

 

 

 

414

 

Total

 

$

16,414

 

 

$

15,580

 

 

$

49,179

 

 

$

44,721