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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term Debt consists of the following at December 31:
(in thousands) |  | 2023 |  |  | 2022 |
Variable-rate term loans 1 |  | $ | 761,000 |  |  | $ | 721,000 |
Fixed-rate term loans 2 |  |  | 210,000 |  |  |  | 250,000 |
Revenue bonds 3 |  |  | 65,735 |  |  |  | 65,735 |
Long-term principal |  |  | 1,036,735 |  |  |  | 1,036,735 |
Debt issuance costs |  |  | (1,926 | ) |  |  | (2,324 | )
Unamortized discounts |  |  | (1,081 | ) |  |  | (1,731 | )
Total long-term debt |  |  | 1,033,728 |  |  |  | 1,032,680 |
Less: current portion of long-term debt |  |  | (175,615 | ) |  |  | (39,979 | )
Long-term debt |  | $ | 858,113 |  |  | $ | 992,701 |
1 | Variable-rate term loans are at rates of one-month SOFR plus a spread between 1.66% and 2.30% and mature between 2026 and 2033. As of December 31, 2023, the one-month SOFR rate was 5.34%. We have entered into interest rate swaps to fix the interest rate on these variable-rate term loans. See Note 10: Derivative Instruments for additional information.
2 | Fixed-rate term loans are at rates between 4.05% and 4.64% and mature between 2024 and 2025.
3 | Revenue bonds have a fixed rate of 2.75% and mature in 2024.
Schedule of Maturities of Long-term Debt | Scheduled principal payments due on long-term debt at December 31, 2023 are as follows:
(in thousands) |  |  |
2024 |  | $ | 175,735 |
2025 |  |  | 100,000 |
2026 |  |  | 27,500 |
2027 |  |  | 138,750 |
2028 |  |  | 100,000 |
Thereafter |  |  | 494,750 |
Total |  | $ | 1,036,735 |

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