Debt and Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2025

The following table presents total debt (in thousands):


	March 31, 2025		December 31, 2024
Current portion of long-term debt
2022 Credit Agreement (1)	$	—	$	20,000
Long-term debt, net of current portion
2022 Credit Agreement (1)	390,000		630,000
LSA (weighted average interest rate of 5.17% at March 31, 2025)	250,000		—
Total long-term debt, net of current portion	640,000		630,000
Total debt	$	640,000	$	650,000

(1) As of March 31, 2025, our outstanding revolving credit loan balance under the 2022 Credit Agreement consisted of:

•$35.0 million at a weighted average variable interest rate of 5.92%;

•$40.0 million which is effectively fixed at 6.45% with interest rate swap agreements through July 2025;

•$90.0 million which is effectively fixed at 6.12% with interest rate swap agreements through July 2026;

•$75.0 million which is effectively fixed at 6.23% with an interest rate swap agreement through April 2027;

•$75.0 million which is effectively fixed at 6.09% with an interest rate swap agreement through May 2027; and

•$75.0 million which is effectively fixed at 5.14% with an interest rate swap agreement through August 2028.

Availability under the LSA is calculated as follows (in thousands):


	March 31, 2025
Borrowing base, based on eligible receivables	$	296,243
Less: outstanding borrowings (1)	(250,000)
Availability under LSA	$	46,243

(1) Outstanding borrowings are included in long-term debt, net of current portion on the condensed consolidated balance sheets.

At March 31, 2025, the aggregate maturities of future debt principal payments are as follows (in thousands):