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LONG-TERM DEBT | 9 Months Ended
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Sep. 30, 2022
LONG-TERM DEBT |
LONG-TERM DEBT | NOTE 7. LONG–TERM DEBT ​ Long–term debt is comprised of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2022 |  | December 31, 2021
Credit Facility | ​ | $ | 202,000 | ​ | $ | 234,500
​ | ​ | ​ | ​ | ​ | ​ | ​
6.25% senior notes due April 2028 | ​ | ​ | ​ | ​ | ​ | ​
Principal outstanding | ​ |  | 800,000 | ​ |  | 800,000
Unamortized debt premium | ​ | ​ | 11,031 | ​ |  | 12,536
Unamortized debt issuance costs | ​ |  | (9,158) | ​ |  | (10,406)
​ | ​ |  | 801,873 | ​ |  | 802,130
​ | ​ | ​ | ​ | ​ | ​ | ​
6.875% senior notes due April 2027 | ​ | ​ | ​ | ​ | ​ | ​
Principal outstanding | ​ | ​ | 500,000 | ​ |  | 500,000
Unamortized debt issuance costs | ​ | ​ | (4,978) | ​ |  | (5,805)
​ | ​ | ​ | 495,022 | ​ |  | 494,195
​ | ​ | ​ | ​ | ​ | ​ | ​
Long-term debt | ​ | $ | 1,498,895 | ​ | $ | 1,530,825
​ Our $750.0 million asset–based revolving Credit Facility, as amended (the “Credit Facility”), matures in November 2024. As of September 30, 2022, there were $5.8 million letters of credit outstanding under the Credit Facility and the applicable margin on borrowings outstanding was 2.4%. The weighted average annual interest rate on the outstanding balance under our Credit Facility, excluding the effect of interest rate swaps, was 5.5% and 2.6% at September 30, 2022 and December 31, 2021, respectively. We incurred $0.5 million of commitment fees on the daily unused amount of the Credit Facility in each of the three months ended September 30, 2022 and 2021 and $1.5 million in each of the nine months ended September 30, 2022 and 2021. ​ As of September 30, 2022, we were in compliance with all covenants under our Credit Facility agreement. As a result of the Credit Facility’s financial ratio requirements, $486.4 million of the $542.2 million of undrawn capacity was available for additional borrowings as of September 30, 2022. ​ In February 2021, we amended our Credit Facility to, among other things, reduce the aggregate revolving commitment from $1.25 billion to $750.0 million and adjust certain financial ratios. We wrote off $4.9 million of unamortized deferred financing costs as a result of the amendment, which was recorded to interest expense in our unaudited condensed consolidated statements of operations during the nine months ended September 30, 2021. ​

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
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