LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2024

LONG-TERM DEBT AND FINANCING ARRANGEMENTS

Schedule of long-term debt

	2024		2023
	(in thousands)
Credit Facility(1)	$	—	$	50,000
Notes payable (weighted-average interest rate of 4.6% at December 31, 2024)		189,134		178,938
		189,134		228,938
Less current portion		63,978		66,948
Long-term debt, less current portion	$	125,156	$	161,990

(1) The interest rate swap mitigated interest rate risk by effectively converting the $50.0 million of borrowings under the Credit Facility from variable-rate interest to fixed-rate interest with a per annum rate of 1.55% based on the margin of the Credit Facility at December 31, 2023 and during 2024 through the paydown of the $50.0 million outstanding balance under the Credit Facility on September 30, 2024.

Scheduled maturities of long-term debt obligations

Scheduled payments of long-term debt obligations as of December 31, 2024 were as follows:

	Notes
	Payable
	(in thousands)
2025	$	71,471
2026		59,898
2027		43,637
2028		19,930
2029		10,587
Total payments		205,523
Less amounts representing interest		16,389
Long-term debt	$	189,134