Debt (Tables)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Derivative

Components of debt

The table below presents the components of our debt (in thousands):

	December 31,
	2023		2022
Variable rate debt
Current portion of long-term debt:
Australian credit facility	$	13,203	$	12,542
Current portion of term loans under credit facility	25,000		12,500
Short-term borrowings and current portion of long-term debt	38,203		25,042
Long-term portion:
Revolving credit facility	252,500		519,711
Term loans under credit facility	462,500		487,500
Term facility	109,937		157,250
Receivables securitization facility	191,700		199,500
Less: financing costs, net	1,520		2,200
Long-term debt, net	1,015,117		1,361,761
Total debt	$	1,053,320	$	1,386,803

Schedule of Maturities of Long-term Debt

The table below presents maturities of long-term debt, excluding unamortized deferred financing costs, for the next five years (in thousands):

2024	$	229,903
2025	37,500
2026	787,438
2027	—
2028	—

Schedule of interest rate swaps

The following table provides additional details related to these swap contracts:

Derivative	Inception Date	Effective Date	Termination Date	Notional Amount (in millions)	Fixed Interest Rate
Interest rate swap 1	February 5, 2020	February 26, 2021	February 28, 2025	$150.0	1.3260%
Interest rate swap 2	March 9, 2020	September 29, 2022	February 26, 2027	$150.0	0.6690%

The following table provides additional details related to these former swap contracts:

Derivative	Inception Date	Effective Date	Termination Date	Notional Amount (in millions)	Fixed Interest Rate
Former interest rate swap 1	May 7, 2019	November 20, 2020	September 29, 2022	$75.0	2.0925%
Former interest rate swap 2	July 25, 2019	November 20, 2020	September 29, 2022	$75.0	1.5500%

Changes in deferred financing costs

The table below summarizes changes in deferred financing costs for the past two years (in thousands):

	December 31,
	2023		2022
Deferred financing costs:
Balance at beginning of year	$	4,212	$	4,042
Financing costs deferred	52		170
Balance at end of year	4,264		4,212
Less: Accumulated amortization	(2,744)		(2,012)
Deferred financing costs, net of accumulated amortization	$	1,520	$	2,200

Forward-starting Interest Rate Swap Agreements [Member]

Derivative

Schedule of interest rate swaps

The following table provides details related to our forward-starting interest rate swap contract:

Derivative	Inception Date	Effective Date	Termination Date	Notional Amount (in millions)	Fixed Interest Rate
Forward-starting interest rate swap	March 9, 2020	February 28, 2025	February 26, 2027	$150.0	0.7630%