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DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Our debt consisted of the following at December 31, 2025 and 2024:
20252024
Debt:
Senior Notes due 2031 at a fixed interest rate of 2.75%
$450,000 $450,000 
2015 Term Loan borrowings due 2028 at a variable interest rate of 5.44% (a)
200,000 200,000 
2016 Incremental Term Loan borrowings due 2026 at a variable interest rate of 5.59% (a)
200,000 200,000 
2021 Incremental Term Loan borrowings due 2029 at a variable interest rate of 5.76% (a)
200,000 200,000 
Total principal debt1,050,000 1,050,000 
Less: Current maturities of long-term debt, net of deferred financing costs of $18
(199,982)— 
Less: Unamortized discounts(2,078)(2,431)
Less: Deferred financing costs(2,605)(3,159)
Total long-term debt, net$845,335 $1,044,410 
(a)Reflects variable interest rates as of December 31, 2025.
The effective fixed interest rates provided below represent the contractual rate plus the impact of interest rate swaps, net of estimated patronage payments on the outstanding variable-rate debt as of December 31, 2025:
DebtPrincipal BalancePeriodic Interest RateEffective Fixed Interest Rate (a)
2015 Term Loan$200,000
Daily Simple SOFR + 1.60%
2.11%
2016 Incremental Term Loan200,000
Daily Simple SOFR + 1.75%
2.39%
2021 Incremental Term Loan200,000
Daily Simple SOFR + 1.92%
1.72%
(a)    Effective interest rate is after consideration of interest rate swaps and estimated patronage.
Schedule of Maturities of Long-term Debt
Principal payments due during the next five years and thereafter are as follows: 
Total
2026$200,000 
2027— 
2028200,000 
2029200,000 
2030— 
Thereafter450,000 
Total debt$1,050,000 
Schedule of Debt Covenants December 31, 2025, are summarized below:
Covenant RequirementActual RatioFavorable
Covenant EBITDA to consolidated interest expense should not be less than
2.5 to 1
9.5 to 1
7.0
Covenant debt to covenant net worth plus covenant debt shall not exceed65%34%31%