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Long-Term Debt | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Long-Term Debt | LONG-TERM DEBT Long-term debt consisted of the following (in thousands):
| As of September 30, |  | As of December 31,
| 2023 |  | 2022
Senior notes due 2028, net of unamortized debt issuance costs of $2,588 and $3,036, respectively | $ | 297,412 |  |  | $ | 296,964 |
Term loan, net of unamortized debt issuance costs of $4,543 and $5,767, respectively | 486,726 |  |  | 489,233 |
Vehicle and equipment notes, maturing through September 2028; payable in various monthly installments, including interest rates ranging from 1.9% to 7.0% | 79,941 |  |  | 72,984 |
Note payable, maturing April 2025; payable in annual installments, including interest rate at 5.0% | 1,182 |  |  | 1,973 |
| 865,261 |  |  | 861,154 |
Less: current maturities | (31,803) |  |  | (30,983) |
Long-term debt, less current maturities | $ | 833,458 |  |  | $ | 830,171 |
Remaining required repayments of debt principal, gross of unamortized debt issuance costs, as of September 30, 2023 are as follows (in thousands):
Remainder of 2023 | $ | 8,193 |
2024 | 30,455 |
2025 | 24,917 |
2026 | 20,260 |
2027 | 15,318 |
Thereafter | 773,249 |
Term Loan Benchmark Replacement In April 2023, we notified the lenders on our $500.0 million, seven-year term loan facility due December 2028 (the "Term Loan") under our credit agreement (the "Term Loan Agreement") that we have elected to trigger a benchmark replacement from LIBOR to the Secured Overnight Financing Rate ("Term SOFR"). The Term Loan was subsequently amended on April 28, 2023 (the "First Amendment") to implement Term SOFR as the benchmark rate and includes a credit spread adjustment of 0.11%, 0.26% and 0.43% for interest periods of one month, three months and six months, respectively, and it is subject to the same floor as currently set forth in the Term Loan Agreement. . Term Loan Agreement Amendment In August 2023, we amended our Term Loan ("the Second Amendment"). The amended Term Loan effects a repricing of the interest rate applicable to the existing term loans thereunder from Term SOFR plus 2.25% to Term SOFR plus 2.00%. The Second Amendment also establishes an alternate base rate equal to the highest of (i) the federal funds rate plus 1/2 of 1.00%, (ii) the prime rate and (iii) the Term SOFR rate for an interest period of one month plus 1.00%. The Second Amendment also states that there will be a six-month protection provision during which a 1.00% premium would be charged in connection with certain repricing transactions. As of September 30, 2023, we had $486.7 million, net of unamortized debt issuance costs, due on our Term Loan.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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