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Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of the Company's Long-term Debt

The following table provides a summary of the Company’s long-term debt at December 31:

($ in thousands)		2021				2020
2021 Term Loan, due 2028		$	895,125			$	—
Senior Notes, due 2029			350,000				—
PPP Loan			2,933				—
2018 Term Loan			—				865,642
Revolver			25,000				—
Less: original issue discounts			(6,753	)			(3,952	)
Less: unamortized deferred financing costs			(22,551	)			(19,645	)
Total long-term debt			1,243,754				842,045
Less: current portion of long-term debt			(36,952	)			(9,104	)
Total long-term debt, net of current portion		$	1,206,802			$	832,941

Scheduled Aggregate Future Principal and Interest Payments of Long-term Debt

The following table presents the aggregate principal and interest payments in future years on long-term debt as of December 31, 2021:

($ in thousands)		Principal				Interest (2)
2022 (1)		$	34,019			$	51,859
2023			9,019				51,508
2024			9,019				51,266
2025			9,019				50,849
2026			9,019				50,519
Thereafter			1,200,030				82,296
Total		$	1,270,125			$	338,297

(1) This excludes $2.9 million principal related to the PPP Loan that is expected to be forgiven, as discussed below.

(2) The variable interest rates in effect as of December 31, 2021, was used to calculate interest payments for the 2021 Term Loan and the Revolver borrowings.

Schedule of Consolidated First Lien Net Leverage Ratio and Applicable Prepayment Percentage

In addition, the 2021 Term Loan requires mandatory prepayments equal to the product of the excess cash flows of the Company (as defined in the 2021 Term Loan agreement) and the applicable prepayment percentages (calculated as of the last day of the fiscal year, beginning with the year ending December 31, 2022), as set forth in the following table:

Consolidated First Lien Net Leverage Ratio (As Defined by the 2021 Term Loan Agreement)		Applicable Prepayment Percentage
> 3.70:1.00		50%
< 3.70:1.00 and > 3.20:1.00		25%
< 3.20:1.00		0%

Summary of Senior Notes Redemption Prices Set Forth in Percentages by Year

On or after April 15, 2024, the Company may redeem all or a portion of the Senior Notes at the redemption prices set forth below in percentages by year, plus accrued and unpaid interest:

Year		Percentage
2024		102.750%
2025		101.375%
2026 and thereafter		100.000%

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