XML 48 R33.htm IDEA: XBRL DOCUMENT v3.25.1
Financial Commitments (Tables)
3 Months Ended
Mar. 31, 2025
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 March 31,
2025
As of December 31,
2024
2024 Senior Notes$378,971 $378,023 
Term Loan B— 121,863 
Revolver— — 
Equipment financing and mortgages22,180 25,038 
Other indebtedness4,441 9,214 
Total debt405,592 534,138 
Less: Current maturities13,842 24,113 
Long-term debt, net$391,750 $510,025 
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 March 31, 2025 and December 31, 2024:
As of March 31, 2025As of December 31, 2024
(in thousands)Outstanding DebtUnamortized Discounts and Issuance CostsDebt,
as reported
Outstanding DebtUnamortized Discounts and Issuance CostsDebt,
as reported
2024 Senior Notes$400,000 $(21,029)$378,971 $400,000 $(21,977)$378,023 
Term Loan B— — — 121,863 — 121,863 
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
March 31,
(in thousands)20252024
Cash interest expense:
Interest on Term Loan B$876 $8,488 
Interest on 2024 Senior Notes11,875 — 
Interest on 2017 Senior Notes— 8,594 
Interest on Revolver121 — 
Other interest392 419 
Total cash interest expense13,264 17,501 
Non-cash interest expense:(a)
Amortization of discount and debt issuance costs on Term Loan B— 1,318 
Amortization of debt issuance costs on Revolver140 195 
Amortization of debt issuance costs on 2024 Senior Notes948 — 
Amortization of debt issuance costs on 2017 Senior Notes— 293 
Total non-cash interest expense1,088 1,806 
Total interest expense$14,352 $19,307 
____________________________________________________________________________________________________
(a)The combination of cash and non-cash interest expense produces effective interest rates that are higher than contractual rates. Accordingly, the effective interest rate for the 2024 Senior Notes was 13.56% for the three months ended March 31, 2025.