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v3.23.2

Long-Term Debt (Tables) | 6 Months Ended
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Jun. 30, 2023
Long-Term Debt |
Reconciliation of principal balance of outstanding debt | The following table reconciles the principal balances of our outstanding debt to our condensed consolidated balance sheets, in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | June 30, 2023 |  | December 31, 2022
3.625% Senior Notes due 2029 | ​ | $ | 400,000 | ​ | $ | 400,000
4.125% Senior Notes due 2032 | ​ | ​ | 500,000 | ​ | ​ | 500,000
Term loan due 2026 | ​ | ​ | 551,250 | ​ | ​ | 566,250
Equipment notes | ​ | ​ | 4,598 | ​ | ​ | 8,427
Unamortized debt issuance costs | ​ | ​ | (15,912) | ​ | ​ | (17,352)
Total debt, net of unamortized debt issuance costs | ​ | ​ | 1,439,936 | ​ | ​ | 1,457,325
Less: current portion of long-term debt | ​ | ​ | 45,142 | ​ | ​ | 40,068
Total long-term debt | ​ | $ | 1,394,794 | ​ | $ | 1,417,257
Schedule of remaining principal payments of debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | June 30, 2023 |  | December 31, 2022
3.625% Senior Notes due 2029 | ​ | $ | 400,000 | ​ | $ | 400,000
4.125% Senior Notes due 2032 | ​ | ​ | 500,000 | ​ | ​ | 500,000
Term loan due 2026 | ​ | ​ | 551,250 | ​ | ​ | 566,250
Equipment notes | ​ | ​ | 4,598 | ​ | ​ | 8,427
Unamortized debt issuance costs | ​ | ​ | (15,912) | ​ | ​ | (17,352)
Total debt, net of unamortized debt issuance costs | ​ | ​ | 1,439,936 | ​ | ​ | 1,457,325
Less: current portion of long-term debt | ​ | ​ | 45,142 | ​ | ​ | 40,068
Total long-term debt | ​ | $ | 1,394,794 | ​ | $ | 1,417,257
Summary of key terms of the Credit Agreement | The following table outlines the key terms of the Credit Agreement (dollars in thousands): ​
​ | ​ | ​ | ​
Senior secured term loan facility | $ | 300,000 | ​
Additional delayed draw term loan | $ | 300,000 | ​
​ | ​ | ​ | ​
Additional term loan and/or revolver capacity available under incremental facility (a) | $ | 300,000 | ​
​ | ​ | ​ | ​
Revolving facility | $ | 500,000 | ​
Sublimit for issuance of letters of credit under revolving facility (b) | $ | 100,000 | ​
Sublimit for swingline loans under revolving facility (b) | $ | 35,000 | ​
​ | ​ | ​ | ​
Interest rate as of June 30, 2023 | ​ | 6.20 | %
Scheduled maturity date | ​ | 10/7/2026 | ​
(a) | Additional borrowing capacity is available under the incremental facility, subject to certain terms and conditions (including existing or new lenders providing commitments in respect of such additional borrowing capacity). This incremental facility has not been accessed as of June 30, 2023.
(b) | Use of the sublimits for the issuance of letters of credit and swingline loans reduces the availability under the Revolving Facility.
Schedule of availability under the Revolving Facility | The following table summarizes our availability under the Revolving Facility, in thousands:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ |  | June 30, 2023 |  | December 31, 2022
Revolving facility | ​ | $ | 500,000 | ​ | $ | 500,000
Less: standby letters of credit | ​ | ​ | (67,539) | ​ | ​ | (67,689)
Availability under revolving facility | ​ | $ | 432,461 | ​ | $ | 432,311
Schedule of the key financial covenants | ​
​ | ​ | ​
​ | ​ | As of June 30, 2023
Maximum Net Leverage Ratio | ​ | 3.50:1.00
Minimum Interest Coverage Ratio | ​ | 3.00:1.00
Compliance as of period end | ​ | In Compliance

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