DEBT

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

DEBT

DEBT

Our debt as of March 31, 2024 and December 31, 2023 consists of the following (amounts in thousands):

	As of March 31, 2024						As of December 31, 2023
	Principal		Debt Issuance Costs		Total		Principal		Debt Issuance Costs		Total
Revolving credit facility	$	150,000	$	(3,813)	$	146,187	$	250,000	$	(4,033)	$	245,967
Total debt	$	150,000	$	(3,813)	$	146,187	$	250,000	$	(4,033)	$	245,967

Revolving credit facility

As of March 31, 2024, we had $150 million outstanding and $850 million available under our revolving credit facility. The interest rate on borrowings under our revolving credit facility as of March 31, 2024, was Term SOFR plus 1.20% for an all-in rate of 6.5%. Interest expense, which includes interest on outstanding borrowings and amortization of debt issuance costs, was $3.9 million and $8.5 million for the three months ended March 31, 2024 and 2023, respectively. We were in compliance with each financial covenant (leverage ratio and interest coverage ratio) under our revolving credit facility as of March 31, 2024.

We repaid $100 million, $25 million and $50 million of our outstanding revolving credit facility on March 6, 2024, April 8, 2024 and May 8, 2024, respectively.

We may repay any borrowings under our revolving credit facility at any time without premium or penalty.