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DEBT (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Debt And Derivatives Disclosure [Abstract] |
Schedule of Debt | A summary of debt is as follows:
| March 31, 2025 |  | December 31, 2024
Senior Secured Credit Facility: |  |  |
Term loan A facility (“Term Loan Facility”) payable quarterly beginning in the fiscal year ended December 31, 2027 with balance due September 2029; bearing interest at 5.835% as of March 31, 2025 | $ | 800,000 |  |  | $ | 800,000 |
Revolving credit facility (“Revolving Credit Facility”) due September 2029; bearing interest at term secured overnight financing rate (“Term SOFR”) plus 1.510% | — |  |  | — |
Tax-Exempt Bonds: |  |  |
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014 (“New York Bonds 2014R-1”) due December 2044 - fixed rate interest period bearing interest at 2.875% through December 2029 | 25,000 |  |  | 25,000 |
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014R-2 (“New York Bonds 2014R-2”) due December 2044 - fixed rate interest period bearing interest at 3.125% through May 2026 | 15,000 |  |  | 15,000 |
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2020 (“New York Bonds 2020”) due September 2050 - fixed rate interest period bearing interest at 2.750% through September 2025 | 40,000 |  |  | 40,000 |
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2020R-2 (“New York Bonds 2020R-2”) due September 2050 - fixed rate interest period bearing interest at 5.125% through September 2030 | 35,000 |  |  | 35,000 |
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-3 (“FAME Bonds 2005R-3”) due January 2025 - fixed rate interest period bearing interest at 5.25% through January 2025 | — |  |  | 25,000 |
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015R-1 (“FAME Bonds 2015R-1”) due August 2035 - fixed rate interest period bearing interest at 5.125% through July 2025 | 15,000 |  |  | 15,000 |
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015R-2 (“FAME Bonds 2015R-2”) due August 2035 - fixed rate interest period bearing interest at 4.375% through July 2025 | 15,000 |  |  | 15,000 |
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2024 (“FAME Bonds 2024”) due December 2047 - fixed rate interest period bearing interest at 4.625% through May 2035 | 45,000 |  |  | 45,000 |
Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013 (“Vermont Bonds 2013”) due April 2036 - fixed rate interest period bearing interest at 4.625% through April 2028 | 16,000 |  |  | 16,000 |
Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2022A-1 (“Vermont Bonds 2022A-1”) due June 2052 - fixed rate interest period bearing interest at 5.00% through May 2027 | 35,000 |  |  | 35,000 |
Vermont Economic Development Authority Solid Waste Disposal Revenue Bonds Series 2022A-2 (“Vermont Bonds 2022A-2”) due June 2052 - fixed rate interest period bearing interest at 4.375% through May 2032 | 25,000 |  |  | — |
Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013 (“New Hampshire Bonds”) due April 2029 - fixed rate interest period bearing interest at 2.95% through April 2029 | 11,000 |  |  | 11,000 |
Other: |  |  |
Finance leases maturing through December 2107; bearing interest at a weighted average of 4.7% | 72,704 |  |  | 69,662 |
Notes payable with no stated interest rate maturing through September 2028 | 1,463 |  |  | 1,500 |
Principal amount of debt | 1,151,167 |  |  | 1,148,162 |
Less—unamortized debt issuance costs | 14,789 |  |  | 14,911 |
Debt less unamortized debt issuance costs | 1,136,378 |  |  | 1,133,251 |
Less—current maturities of debt | 20,967 |  |  | 42,619 |
| $ | 1,115,411 |  |  | $ | 1,090,632 |
The Credit Facility shall bear interest, at our election, at Term SOFR or at a base rate, in each case plus or minus any sustainable rate adjustment of up to positive or negative 4.0 basis points per annum, plus an applicable interest rate margin based upon our consolidated net leverage ratio as follows:
|  | Term SOFR Loans |  | Base Rate Loans
Credit Facility |  | 1.300% to 2.175% |  | 0.300% to 1.175%
Schedule of Cash and Cash Equivalents | Beginning-of-period and end-of-period cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows is reconciled as follows:
|  | March 31, 2025 |  | December 31, 2024 |  |  |  |
Cash and cash equivalents |  | $ | 267,709 |  |  | $ | 358,303 |  |  |  |  |
Restricted cash - current |  | — |  |  | 25,000 |  |  |  |  |
Restricted cash - non-current |  | 2,190 |  |  | — |  |  |  |  |
Cash, cash equivalents, restricted cash and non-current restricted cash |  | $ | 269,899 |  |  | $ | 383,303 |  |  |  |  |
Schedule of Restricted Cash | Beginning-of-period and end-of-period cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows is reconciled as follows:
|  | March 31, 2025 |  | December 31, 2024 |  |  |  |
Cash and cash equivalents |  | $ | 267,709 |  |  | $ | 358,303 |  |  |  |  |
Restricted cash - current |  | — |  |  | 25,000 |  |  |  |  |
Restricted cash - non-current |  | 2,190 |  |  | — |  |  |  |  |
Cash, cash equivalents, restricted cash and non-current restricted cash |  | $ | 269,899 |  |  | $ | 383,303 |  |  |  |  |
Schedule of Cash Flow Hedges | A summary of the effect of cash flow hedges related to derivative instruments on the consolidated balance sheets follows:
|  |  | Fair Value
| Balance Sheet Location |  | March 31, 2025 |  | December 31, 2024
Interest rate swaps | Other current assets |  | $ | 3,185 |  |  | $ | 3,606 |
Interest rate swaps | Other non-current assets |  | 2,399 |  |  | 4,036 |
|  |  | $ | 5,584 |  |  | $ | 7,642 |
Interest rate swaps | Other accrued liabilities |  | $ | 1,154 |  |  | $ | 570 |
Interest rate swaps | Other long-term liabilities |  | 5,373 |  |  | 2,282 |
|  |  | $ | 6,527 |  |  | $ | 2,852 |
Interest rate swaps | Accumulated other comprehensive (loss) income, net of tax |  | $ | (944) |  |  | $ | 4,790 |
Interest rate swaps - tax effect | Accumulated other comprehensive (loss) income, net of tax |  | 205 |  |  | (1,478) |
|  |  | $ | (739) |  |  | $ | 3,312 |

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