Revolving Credit Facility and Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Principal balances outstanding under our long-term debt obligations as of June 30, 2023 and December 31, 2022 consisted of the following (in thousands):

	June 30, 2023		December 31, 2022
Term loans	$	150,000	$	124,688
Revolving credit loans		190,000		73,500
Less unamortized debt issuance costs		(1,018)		(179)
Total long-term debt		338,982		198,009
Less current portion		3,750		11,250
Long-term portion	$	335,232	$	186,759

Schedule of Long-term Debt Covenants

The Fourth Amended Credit Agreement is collateralized by substantially all our assets. The Fourth Amended Credit Agreement contains affirmative and negative covenants, representations and warranties, events of default and other terms customary for loans of this nature. In particular, the Fourth Amended Credit Agreement requires that we maintain certain financial covenants, as follows:

	Covenant Requirement
Consolidated Total Leverage Ratio (1)		4.0 to 1.0
Consolidated Interest Coverage Ratio (2)		3.0 to 1.0

(1) Maximum Consolidated Total Net Leverage Ratio (as defined in the Fourth Amended Credit Agreement) as of any fiscal quarter end.

(2) Minimum ratio of Consolidated EBITDA (as defined in the Fourth Amended Credit Agreement and adjusted for certain expenditures) to Consolidated Interest Expense (as defined in the Fourth Amended Credit Agreement) for any period of four consecutive fiscal quarters.

Schedule of Maturities of Long-term Debt

Future minimum principal payments on our long-term debt, as of June 30, 2023, were as follows (in thousands):

Years Ending	Future Minimum
December 31,	Principal Payments
Remaining 2023	$	1,875
2024		3,750
2025		5,625
2026		7,500
2027		9,375
2028		311,875
Total future minimum principal payments	$	340,000