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Note 6 - Long-term Debt | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Long-Term Debt [Text Block] | NOTE 6. LONG-TERM DEBT Long-term debt, net of current maturities and debt issuance costs, consists of the following:
|  | September 30, 2023 |
|  | Interest |  |  |  |  |  |  |  |  |  |  | Unamortized |  |  |  |  |
|  | Rates at |  |  |  |  |  |  |  |  |  |  | Origination |  |  |  |  |
|  | September 30, |  |  | Outstanding |  |  | Unamortized |  |  | Fees and |  |  | Long-Term |
(In thousands) |  | 2023 |  |  | Principal |  |  | Discount |  |  | Costs |  |  | Debt, Net |
Credit facility |  |  | 6.901 | % |  | $ | 1,041,800 |  |  | $ | — |  |  | $ | (14,485 | ) |  | $ | 1,027,315 |
4.750% senior notes due 2027 |  |  | 4.750 | % |  |  | 1,000,000 |  |  |  | — |  |  |  | (8,279 | ) |  |  | 991,721 |
4.750% senior notes due 2031 |  |  | 4.750 | % |  |  | 900,000 |  |  |  | — |  |  |  | (10,449 | ) |  |  | 889,551 |
Other |  |  | 5.208 | % |  |  | 538 |  |  |  | — |  |  |  | — |  |  |  | 538 |
Total long-term debt |  |  |  |  |  |  | 2,942,338 |  |  |  | — |  |  |  | (33,213 | ) |  |  | 2,909,125 |
Less current maturities |  |  |  |  |  |  | 44,275 |  |  |  | — |  |  |  | — |  |  |  | 44,275 |
Long-term debt, net |  |  |  |  |  | $ | 2,898,063 |  |  | $ | — |  |  | $ | (33,213 | ) |  | $ | 2,864,850 |
|  | December 31, 2022 |
|  | Interest |  |  |  |  |  |  |  |  |  |  | Unamortized |  |  |  |  |
|  | Rates at |  |  |  |  |  |  |  |  |  |  | Origination |  |  |  |  |
|  | December 31, |  |  | Outstanding |  |  | Unamortized |  |  | Fees and |  |  | Long-Term |
(In thousands) |  | 2022 |  |  | Principal |  |  | Discount |  |  | Costs |  |  | Debt, Net |
Credit facility |  | 6.166 | % |  | $ | 1,187,800 |  |  | $ | — |  |  | $ | (17,865 | ) |  | $ | 1,169,935 |
4.750% senior notes due 2027 |  | 4.750 | % |  |  | 1,000,000 |  |  |  | — |  |  |  | (9,740 | ) |  |  | 990,260 |
4.750% senior notes due 2031 |  | 4.750 | % |  |  | 900,000 |  |  |  | — |  |  |  | (11,460 | ) |  |  | 888,540 |
Other |  | 5.208 | % |  |  | 674 |  |  |  | — |  |  |  | — |  |  |  | 674 |
Total long-term debt |  |  |  |  |  | 3,088,474 |  |  |  | — |  |  |  | (39,065 | ) |  |  | 3,049,409 |
Less current maturities |  |  |  |  |  | 44,275 |  |  |  | — |  |  |  | — |  |  |  | 44,275 |
Long-term debt, net |  |  |  |  | $ | 3,044,199 |  |  | $ | — |  |  | $ | (39,065 | ) |  | $ | 3,005,134 |
The outstanding principal amounts under the Credit Facility are comprised of the following:
|  | September 30, |  |  | December 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Revolving credit facility |  | $ | 175,000 |  |  | $ | 285,000 |
Term A loan |  |  | 814,000 |  |  |  | 847,000 |
Swing loan |  |  | 52,800 |  |  |  | 55,800 |
Total outstanding principal amounts |  | $ | 1,041,800 |  |  | $ | 1,187,800 |
With a total revolving credit commitment of $1,450.0 million available under the Credit Facility, $175.0 million and $52.8 million in borrowings outstanding on the Revolving Credit Facility and the Swing Loan, respectively, and $13.4 million allocated to support various letters of credit, there was a remaining contractual availability under the Credit Facility of $1,208.8 million as of September 30, 2023. Early Extinguishments and Modifications of Debt During the nine months ended September 30, 2022, the Company incurred $16.5 million in loss on early extinguishments and modifications of debt due to the redemption of $300.0 million of our 8.625% senior notes due 2025 ("8.625% Senior Notes"), which was accounted for as a debt extinguishment. The $16.5 million incurred is comprised of $12.9 million related to premium fees paid and $3.6 million related to the write-off of unamortized deferred finance charges. In addition, during the nine months ended September 30, 2022, the Company incurred $3.3 million in loss on early extinguishments and modifications of debt as a result of entering into a new credit agreement (the "Credit Facility") that replaced the then existing credit agreement. The $3.3 million incurred related to the write-off of unamortized deferred finance charges associated with the portion accounted for as a debt extinguishment. Covenant Compliance As of September 30, 2023, we were in compliance with the financial covenants of our debt instruments. BOYD GAMING CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) — (Continued) as of September 30, 2023 and December 31, 2022 and for the three and nine months ended September 30, 2023 and 2022 ______________________________________________________________________________________________________

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