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Debt (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt

 

(in thousands)

 

March 31, 2022

 

 

December 31, 2021

 

 

Effective Interest Rate as of March 31, 2022

 

Term Loans

 

 

 

 

 

 

 

 

 

 

 

 

Due July 2026, 2.47% interest rate, resets April 6, 2022

 

$

646,239

 

 

$

646,239

 

 

2.86%

 

Due December 2028, 3.26% interest rate, reset March 31, 2022

 

 

435,000

 

 

 

505,000

 

 

3.58%

 

Term loan principal outstanding

 

 

1,081,239

 

 

 

1,151,239

 

 

 

 

 

Unamortized debt issuance costs

 

 

(14,496

)

 

 

(16,436

)

 

 

 

 

Unamortized debt discount

 

 

(6,214

)

 

 

(6,879

)

 

 

 

 

Long-term debt, net

 

$

1,060,529

 

 

$

1,127,924

 

 

 

 

 

Schedule of Components of Interest Expense and Other Financing Costs

 

 

 

For the Three Months

Ended March 31,

 

(in thousands)

 

2022

 

 

2021

 

Interest expense

 

$

7,120

 

 

$

4,929

 

Amortization of debt issuance costs

 

 

843

 

 

 

662

 

Amortization of debt discount

 

 

328

 

 

 

321

 

Interest rate swap expense

 

 

849

 

 

 

818

 

Other

 

 

93

 

 

 

115

 

Total

 

$

9,233

 

 

$

6,845