Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Instrument [Line Items]

Long-Term debt

Outstanding long-term debt consisted of the following (in thousands):

	September 30,		December 31,		September 30,
	2023		2022		2022
Term Loan Facility (1)	$	1,348,882	$	1,360,454	$	1,359,230
Real Estate Facilities (2)		188,543		145,911		21,666
Other Long-Term Debt		8,327		3,280		3,311
Subtotal		1,545,752		1,509,645		1,384,207
Less: current portion		(23,257)		(25,229)		(15,827)
Total	$	1,522,495	$	1,484,416	$	1,368,380

(1) Net of $12.6 million, $14.2 million, and $15.2 million of original issue discount at September 30, 2023, December 31, 2022, and September 30, 2022, respectively, and $5.0 million, $5.8 million, and $6.1 million of finance costs at September 30, 2023, December 31, 2022, and September 30, 2022, respectively.

(2) Net of $3.5 million, $3.4 million, and $0.2 million of finance costs at September 30, 2023, December 31, 2022, and September 30, 2022, respectively.

Term Loan Facility

Debt Instrument [Line Items]

Schedule of outstanding amounts and available borrowings

The following table details the outstanding amounts and available borrowings under the Senior Secured Credit Facilities as of (in thousands):

	September 30,		December 31,		September 30,
	2023		2022		2022
Senior Secured Credit Facilities:
Term Loan Facility:
Principal amount of borrowings	$	1,400,000	$	1,400,000	$	1,400,000
Less: cumulative principal payments		(33,530)		(19,515)		(19,515)
Less: unamortized original issue discount		(12,596)		(14,224)		(15,177)
Less: unamortized finance costs		(4,992)		(5,807)		(6,078)
		1,348,882		1,360,454		1,359,230
Less: current portion		(14,015)		(14,015)		(14,015)
Long-term debt, net of current portion	$	1,334,867	$	1,346,439	$	1,345,215
Revolving Credit Facility:
Total commitment	$	65,000	$	65,000	$	65,000
Less: outstanding letters of credit		(4,930)		(4,930)		(4,930)
Less: total net leverage ratio borrowing limitation		(37,320)		—		—
Additional borrowing capacity	$	22,750	$	60,070	$	60,070

Real Estate Facilities

Debt Instrument [Line Items]

Schedule of outstanding amounts and available borrowings

	As of September 30, 2023
	Principal			Remaining			Wtd. Average
(In thousands)	Outstanding(1)			Available(2)			Interest Rate
Real Estate Facilities
M&T Real Estate Facility	$	179,662	(4)	$	68,394	(3)		7.62%
First CIBC Real Estate Facility		3,725			—			8.17%
Third CIBC Real Estate Facility		9,178			—			7.92%
Less: Amount reclassified to liabilities related to assets held for sale		(4,022)			—
	$	188,543		$	68,394

(1) Outstanding principal amounts are net of unamortized finance costs.

(2) Amounts cannot be reborrowed.

(3) Additional borrowings on the M&T Real Estate Facility are subject to a debt service coverage ratio covenant and to the property collateral requirements under the M&T Real Estate Facility.

(4) $4.0 million of this amount is classified as liabilities related to assets held for sale (see Note 5 ― Assets Held for Sale).