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Note 13. Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Instruments [Abstract]

Schedule of debt arrangements

Our debt arrangements consisted of the following at December 31, 2024 and 2023 (in thousands):

												Balance (USD)
Loan Agreement						Currency						2024						2023
Revolving Credit Facility						USD						$	—					$	—
India Credit Facility						USD						464,550						500,000
India JPM Working Capital Facility						INR						28,490						60,827
India HSBC Working Capital Facility						INR						69,097						—
India Citibank Working Capital Facility						INR						48,017						—
India Credit Agricole Working Capital Facility						INR						—						—
Total debt principal												610,154						560,827
Less: unamortized issuance costs												(376)						(521)
Total debt												609,778						560,306
Less: current portion												(236,424)						(96,238)
Noncurrent portion												$	373,354					$	464,068

Schedule of borrowing rates on outstanding debt arrangements

As of December 31, 2024, the borrowing rates for our outstanding debt arrangements were as follows:

Loan Agreement

Interest Rate Description

Interest Rate

India Credit Facility

U.S. Treasury Constant Maturity Yield plus 1.75%

5.57%

India JPM Working Capital Facility (1)

India Treasury bill rate plus 1.3%

7.81%

India HSBC Working Capital Facility (1)

India Treasury bill rate plus 1.5%

7.96%

India Citibank Working Capital Facility (1)

India Treasury bill rate plus 1.1%

7.53%

——————————

(1)The weighted-average interest rate for our outstanding short-term debt arrangements was 7.79% as of December 31, 2024.

Schedule of future principal payments on long-term debt

At December 31, 2024, the future principal payments on our long-term debt were due as follows (in thousands):

						Total Debt
2025						$	90,899
2026						90,899
2027						90,950
2028						91,000
2029						100,802
Total long-term debt future principal payments						$	464,550

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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