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Long-term Debt | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Long-term Debt | 12. LONG-TERM DEBT Long-term debt consisted of the following:
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
2026 Term Loans, due March 12, 2026 |  | $ | 289,459 |  |  | $ | 290,730 |
Less: current portion |  |  | (3,000 | ) |  |  | (3,000 | )
Long-term debt |  | $ | 286,459 |  |  | $ | 287,730 |
The 2026 Term Loans mature on March 12, 2026. The 2026 Term Loans bear interest at the Secured Overnight Financing Rate plus a credit spread adjustment applicable to the interest period and an applicable margin of 2.50% with a floor of 0.5%. The 2026 Term Loans have an incremental facility capacity in the amount of $175.0 million plus additional amounts, provided that the Company meets certain conditions, including a specified leverage ratio. The Company was in compliance with its debt covenants at June 30, 2024.

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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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