XML 45 R33.htm IDEA: XBRL DOCUMENT v3.24.3
Financial Commitments (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt as reported on the Condensed Consolidated Balance Sheets consisted of the following:
(in thousands)As of September 30,
2024		As of December 31,
2023
2024 Senior Notes$377,105 $— 
2017 Senior Notes— 498,410 
Term Loan B265,801 357,744 
Revolver— — 
Equipment financing and mortgages28,064 34,807 
Other indebtedness10,460 8,784 
Total debt681,430 899,745 
Less: Current maturities(a)
25,724 117,431 
Long-term debt, net$655,706 $782,314 
____________________________________________________________________________________________________
(a)Current maturities at December 31, 2023 included the $91.0 million principal prepayment on the Term Loan B that was made in February 2024.
Schedule of Reconciliation of Outstanding Debt Balance to Reported Debt Balance
The following table reconciles the outstanding debt balances to the reported debt balances as of September 30, 2024 and December 31, 2023:
As of September 30, 2024As of December 31, 2023
(in thousands)Outstanding DebtUnamortized Discounts and Issuance CostsDebt,
as reported		Outstanding DebtUnamortized Discounts and Issuance CostsDebt,
as reported
2024 Senior Notes$400,000 $(22,895)$377,105 $— $— $— 
2017 Senior Notes— — — 500,000 (1,590)498,410 
Term Loan B272,926 (7,125)265,801 367,154 (9,410)357,744 
Schedule of Interest Expense as Reported in the Consolidated Statements of Operations
Interest expense as reported in the Condensed Consolidated Statements of Operations consisted of the following:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2024202320242023
Cash interest expense:
Interest on Term Loan B$7,121 $9,674 $22,693 $28,673 
Interest on 2024 Senior Notes11,875 — 20,583 — 
Interest on 2017 Senior Notes— 8,594 11,554 25,782 
Interest on Revolver20 369 993 4,921 
Other interest686 689 1,904 1,474 
Total cash interest expense19,702 19,326 57,727 60,850 
Non-cash interest expense:(a)
Amortization of discount and debt issuance costs on Term Loan B494 509 2,285 1,609 
Amortization of debt issuance costs on 2024 Senior Notes887 — 1,519 — 
Non-cash portion of loss on extinguishment— — 1,198 — 
Amortization of debt issuance costs on Revolver140 195 493 550 
Amortization of debt issuance costs on 2017 Senior Notes— 283 392 833 
Total non-cash interest expense1,521 987 5,887 2,992 
Total interest expense$21,223 $20,313 $63,614 $63,842 
____________________________________________________________________________________________________
(a)The combination of cash and non-cash interest expense produces effective interest rates that are higher than contractual rates. Accordingly, the effective interest rates for the 2024 Senior Notes, 2017 Senior Notes and Term Loan B were 13.56%, 7.13% and 12.00%, respectively, for the nine months ended September 30, 2024.