Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Principal balances outstanding under our long-term debt obligations as of September 30, 2024 and December 31, 2023 consisted of the following (in thousands):

	September 30, 2024		December 31, 2023
Term loans	$	23,000	$	99,063
Revolving credit loans		—		—
Convertible notes		747,500		747,500
Less unamortized debt issuance costs		(19,995)		(23,550)
Total long-term debt		750,505		823,013
Less current portion		—		—
Long-term portion	$	750,505	$	823,013

Schedule of Maturities of Long-term Debt

Future minimum principal payments on our long-term debt, as of September 30, 2024, were as follows (in thousands):

Years Ending	Future Minimum
December 31,	Principal Payments
Remaining 2024	$	—
2025		—
2026		—
2027		—
2028		23,000
Thereafter		747,500
Total future minimum principal payments	$	770,500

Schedule of Long-term Debt Covenants

The Amended Fourth A&R Credit Agreement is collateralized by substantially all of our assets. The Amended Fourth A&R 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 Amended Fourth A&R Credit Agreement requires that we maintain certain financial covenants, as follows:

	Covenant Requirement
Consolidated Total Net Leverage Ratio (1)		5.0 to 1.0
Consolidated Senior Secured Net Leverage Ratio (2)		3.0 to 1.0
Consolidated Interest Coverage Ratio (3)		3.0 to 1.0

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

(2) Maximum Consolidated Senior Secured Net Leverage Ratio (as defined in the Amended Fourth A&R Credit Agreement) as of any fiscal quarter end.

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