Debt (Tables)

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Derivative

Components of debt

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

	December 31,
	2024		2023
Variable rate debt
Current portion of long-term debt:
Australian credit facility	$	11,973	$	13,203
Current portion of term loans under credit facility	37,500		25,000
Short-term borrowings and current portion of long-term debt	49,473		38,203
Long-term portion:
Revolving credit facility	194,600		252,500
Term loans under credit facility	425,000		462,500
Term facility	109,937		109,937
Receivables securitization facility	174,100		191,700
Less: financing costs, net	2,754		1,520
Long-term debt, net	900,883		1,015,117
Total debt	$	950,356	$	1,053,320

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):

2025	$	49,473
2026	709,037
2027	—
2028	—
2029	194,600

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,
	2024		2023
Deferred financing costs:
Balance at beginning of year	$	4,264	$	4,212
Financing costs deferred	2,077		52
Write-off of fully amortized deferred financing costs	(1,326)		—
Balance at end of year	5,015		4,264
Less: Accumulated amortization	(2,261)		(2,744)
Deferred financing costs, net of accumulated amortization	$	2,754	$	1,520

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%