Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Debt, Net of Unamortized Deferred Loan Costs And Original Issue Discount

The Company’s debt, net of unamortized deferred loan costs and original issue discount, consisted of the following at December 31, 2021 and 2020 was as follows:

(In thousands)	December 31, 2021			December 31, 2020
Term Loan A	$	—		$	124,035
Term Loan B		394,000			372,240
		394,000			496,275
Less: deferred loan costs and original issue discount		(13,496	)		(29,569	)
Total debt		380,504			466,706
Less: current portion		—			(7,456	)
Total long-term debt	$	380,504		$	459,250

Summary of Effective Interest Rates Related to Continuing Operations for Term Loan A and Term Loan B

The following table shows the effective interest rates related to continuing operations for Term Loan A and Term Loan B (exclusive of payments related to de-designated interest rate swaps, which we do not classify as interest expense) for the years ended December 31, 2021 and 2020:

	For the Year Ended December 31,
Effective interest rate per annum	2021			2020
Term Loan A under the Prior Credit Agreement		6.58	%		6.64	%
Term Loan B under the Prior Credit Agreement		7.22	%		7.08	%
Term Loan B under the Credit Agreement		6.52	%		—

Minimum Annual Principal Payments and Repayments of the Revolving Advances

The following table summarizes the minimum annual principal payments and repayments of the revolving advances under the Credit Agreement for each of the next five years and thereafter:

(In thousands)
Year ending December 31,
2022		—
2023		4,000
2024		4,000
2025		4,000
2026		4,000
2027 and thereafter		378,000
Total	$	394,000