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Long-Term Obligations (Tables)
 3 Months Ended
Mar. 31, 2024
LOng-Term Obligations Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The carrying values of our long-term debt consist of the following (in thousands):
Effective Interest Rate
As of
March 31, 2024
Effective Interest Rate
As of
December 31, 2023
Senior Secured Credit Facilities:
Term Loan A — principal8.24 %$802,188 7.67 %$812,813 
Term Loan B — principal8.60 %833,000 8.00 %835,125 
Revolving Credit Facility — principal— %— — %— 
Less unamortized debt issuance costs(1)
(17,890)(19,168)
Total carrying value of long-term debt1,617,298 1,628,770 
Less current portion of long-term debt51,000 51,000 
Long-term debt, net$1,566,298 $1,577,770 
_______________________________
(1)    Comprised of $8.5 million and $9.4 million relating to the Term Loan A and the Term Loan B, respectively, as of March 31, 2024.
Schedule of Maturities of Long-term Debt
As of March 31, 2024, the aggregate amount of principal repayments of our long-term debt (including any current portion) for each of the next five years and thereafter is approximately (in thousands):

Remainder of 2024$38,250 
202551,000 
202672,250 
2027672,563 
20288,500 
2029792,625 
Thereafter— 
Total$1,635,188 
Interest expense on long term debt
The following table presents the total interest expense related to our long-term debt (in thousands):

Three months ended
March 31,
20242023
Contractual interest$32,276 $29,263 
Amortization of debt issuance costs1,708 1,701 
Commitment fee — Revolving Credit Facility379 368 
Total long-term debt-related interest expense$34,363 $31,332 
Applicable Margin Based on Leverage Ratio
Effective on the first Adjustment Date, as defined in the Credit Agreement, occurring subsequent to our quarter ended June 30, 2022, the applicable margin for the Term Loan A and borrowings under the Revolving Credit Facility is determined by reference to the leverage ratio in effect from time to time as set forth in the following table:

Leverage RatioApplicable Margin for Term SOFR LoansApplicable Margin for Base Rate LoansCommitment Fee Rate
Greater than 4.00 to 1.02.25%1.25%0.35%
Less than or equal to 4.00 to 1.0 but greater than 3.00 to 1.02.00%1.00%0.30%
Less than or equal to 3.00 to 1.0 but greater than 2.50 to 1.01.75%0.75%0.25%
Less than or equal to 2.50 to 1.0 but greater than 2.00 to 1.01.50%0.50%0.20%
Less than or equal to 2.00 to 1.01.25%0.25%0.15%