XML 51 R40.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CREDIT FACILITIES (Details)
3 Months Ended 6 Months Ended 12 Months Ended
Apr. 15, 2024
USD ($)
Dec. 07, 2023
USD ($)
Rate
Jun. 30, 2023
USD ($)
May 08, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Feb. 28, 2023
USD ($)
Debt Instrument [Line Items]                    
Lines of credit         $ 248,000,000   $ 248,000,000   $ 520,000,000  
Amortization and write-off of deferred financing fees             1,551,000 $ 4,279,000    
IPO                    
Debt Instrument [Line Items]                    
Net proceeds from issuance of stock $ 423,000,000                  
Line of Credit                    
Debt Instrument [Line Items]                    
Deferred financing costs         15,099,000   15,099,000   15,099,000  
Amortization and write-off of deferred financing fees         755,000 $ 165,000 1,510,000 352,000    
Accumulated amortization, debt issuance costs         1,703,000   1,703,000   193,000  
The Working Capital Loan | Line of Credit                    
Debt Instrument [Line Items]                    
Maximum borrowing capacity                   $ 17,500,000
Interest rate                   9.00%
Proceeds from loan       $ 15,000,000            
Outstanding balance         0   0      
The 2023 Credit Agreement | Line of Credit                    
Debt Instrument [Line Items]                    
Maximum borrowing capacity         600,000,000   600,000,000      
Proceeds from loan   $ 460,000,000                
Deferred financing costs                 9,662,000  
Repayments of long-term debt     $ 142,000,000              
Debt to income ratio, maximum | Rate   300.00%                
Interest rent coverage ratio, minimum | Rate   110.00%                
Lines of credit         248,000,000   248,000,000   520,000,000  
Remaining borrowing capacity         $ 340,350,000   $ 340,350,000   80,000,000  
Repayments of long-term lines of credit $ 370,000,000                  
Portion used for repayments of long term line of credit 0.875                  
The 2023 Credit Agreement | Line of Credit | Minimum                    
Debt Instrument [Line Items]                    
Commitment fee percentage   0.25%                
The 2023 Credit Agreement | Line of Credit | Maximum                    
Debt Instrument [Line Items]                    
Commitment fee percentage   0.45%                
The 2023 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)                    
Debt Instrument [Line Items]                    
Credit spread adjustment on variable rate   0.0010 0.0010              
The 2023 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Minimum                    
Debt Instrument [Line Items]                    
Spread on base rate   2.25% 2.50%              
The 2023 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Maximum                    
Debt Instrument [Line Items]                    
Spread on base rate   3.25% 3.50%              
The 2023 Credit Agreement | Line of Credit | Base Rate | Minimum                    
Debt Instrument [Line Items]                    
Spread on base rate   1.25% 1.50%              
The 2023 Credit Agreement | Line of Credit | Base Rate | Maximum                    
Debt Instrument [Line Items]                    
Spread on base rate   2.25% 2.50%              
The 2023 Credit Agreement | Line of Credit | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Maximum borrowing capacity   $ 600,000,000 $ 150,000,000     150,000,000   150,000,000    
Proceeds from loan     $ 75,000,000              
The 2023 Credit Agreement | Line of Credit | Revolving Credit Facility | Minimum                    
Debt Instrument [Line Items]                    
Commitment fee percentage     0.30%              
The 2023 Credit Agreement | Line of Credit | Revolving Credit Facility | Maximum                    
Debt Instrument [Line Items]                    
Commitment fee percentage     0.50%              
The 2023 Credit Agreement | Line of Credit | Letter of Credit                    
Debt Instrument [Line Items]                    
Maximum borrowing capacity   50,000,000 $ 30,000,000     30,000,000   30,000,000    
The 2023 Credit Agreement | Line of Credit | Swingline Loan                    
Debt Instrument [Line Items]                    
Maximum borrowing capacity   $ 20,000,000 20,000,000     20,000,000   20,000,000    
The 2023 Credit Agreement | Line of Credit | Secured Debt                    
Debt Instrument [Line Items]                    
Proceeds from loan     275,000,000              
Debt instrument, face amount     $ 275,000,000     $ 275,000,000   $ 275,000,000    
The 2023 Credit Agreement | Line of Credit | Line of Credit and Long-term Debt                    
Debt Instrument [Line Items]                    
Deferred financing costs, writeoff                 3,109,000  
The 2023 Credit Agreement | Line of Credit | Line of Credit and Long-term Debt, Amended                    
Debt Instrument [Line Items]                    
Deferred financing costs, writeoff                 $ 519,000