DEBT AND CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

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

2026	$	—
2027	427,000
2028	325,000
Total	$	752,000

Schedule of Debt

The following table presents total debt (in thousands):

	December 31,
	2025		2024
Current portion of long-term debt
2022 Credit Agreement	$	—	$	20,000
Long-term debt, net of current portion
2022 Credit Agreement (1)	427,000		630,000
LSA (weighted average interest rate of 4.77% at December 31, 2025)	325,000		N/A
Total long-term debt, net of current portion	752,000		630,000
Total debt	$	752,000	$	650,000

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

•$52.0 million at a weighted average variable interest rate of 5.56%;

•$90.0 million which is effectively fixed at 6.24% with interest rate swap agreements through July 2026;

•$75.0 million which is effectively fixed at 6.36% with an interest rate swap agreement through April 2027;

•$75.0 million which is effectively fixed at 6.21% with an interest rate swap agreement through May 2027;

•$75.0 million which is effectively fixed at 5.26% with an interest rate swap agreement through August 2028; and

•$60.0 million which is effectively fixed at 5.27% with interest rate swap agreements through July 2028.

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

	December 31,
	2025		2024
Borrowing base, based on eligible receivables	$	325,000	N/A
Less: outstanding borrowings	(325,000)		N/A
Availability under LSA	$	—	N/A