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Debt (Tables) | 12 Months Ended
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Dec. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Debt consisted of the following (in thousands):
| December 31, 2025 |  | December 31, 2024
7.500% Senior Notes | $ | 596,746 |  |  | $ | 595,673 |
Credit Facility | 75,000 |  |  | 75,000 |
Long-term debt | 671,746 |  |  | 670,673 |
Total corporate debt | $ | 671,746 |  |  | $ | 670,673 |
Schedule of Debt | Interest expense, amortization of debt issue costs and amortization of the debt discount of the 6.125% Senior Notes, included in “Interest expense, net” on the accompanying consolidated statements of operations, were as follows (in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2025 |  | 2024 |  | 2023
Interest expense |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 29,383 |
Debt issue cost amortization |  |  |  |  |  | — |  |  | — |  |  | 1,120 |
Debt discount amortization |  |  |  |  |  | — |  |  | — |  |  | 1,096 |
Total |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 31,599 |
The carrying amount of the 7.500% Senior Notes was determined as follows (in thousands):
| December 31, 2025 |  | December 31, 2024
Principal balance | $ | 600,000 |  |  | $ | 600,000 |
Less: debt issue cost | 3,254 |  |  | 4,327 |
Total | $ | 596,746 |  |  | $ | 595,673 |
Interest expense and amortization of debt issue costs of the 7.500% Senior Notes, included in “Interest expense, net” on the accompanying consolidated statements of operations, were as follows (in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2025 |  |  |  |  | 2024 |  | 2023
Interest expense |  |  |  |  |  | $ | 45,000 |  |  |  |  |  | $ | 43,625 |  |  | $ | — |
Debt issue cost amortization |  |  |  |  |  | 1,074 |  |  |  |  |  | 1,041 |  |  | — |
Total |  |  |  |  |  | $ | 46,074 |  |  |  |  |  | $ | 44,666 |  |  | $ | — |
Interest expense, amortization of debt issue costs and acceleration of debt issuance costs of the Delayed Draw Term Loan, included in “Interest expense, net” on the accompanying consolidated statements of operations was $3.7 million and $4.9 million for the years ended December 31, 2024 and 2023.
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2025 |  | 2024 |  | 2023
Interest expense |  |  |  |  |  | $ | — |  |  | $ | 1,038 |  |  | $ | 4,515 |
Debt issue cost amortization |  |  |  |  |  | — |  |  | 16 |  |  | 342 |
Acceleration of debt issuance costs |  |  |  |  |  | — |  |  | 2,653 |  |  | — |
Total |  |  |  |  |  | $ | — |  |  | $ | 3,707 |  |  | $ | 4,857 |
Interest expense and amortization of debt issue costs, and unused facility fee of the Credit Facility, included in “Interest expense, net” on the accompanying consolidated statements of operations, were as follows (in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2025 |  | 2024 |  | 2023
Interest expense |  |  |  |  |  | $ | 11,186 |  |  | $ | 7,348 |  |  | $ | 8,925 |
Debt issue cost amortization |  |  |  |  |  | 1,417 |  |  | 1,326 |  |  | 1,238 |
Unused facility fee |  |  |  |  |  | 867 |  |  | 1,048 |  |  | 972 |
Total |  |  |  |  |  | $ | 13,470 |  |  | $ | 9,722 |  |  | $ | 11,135 |

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