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v3.25.3

Financial Commitments (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2025 |  | As of December 31, 2024
2024 Senior Notes |  | $ | 380,968 |  |  | $ | 378,023 |
Term Loan B |  | — |  |  | 121,863 |
Revolver |  | — |  |  | — |
Equipment financing and mortgages |  | 21,096 |  |  | 25,038 |
Other indebtedness |  | 11,019 |  |  | 9,214 |
Total debt |  | 413,083 |  |  | 534,138 |
Less: Current maturities |  | 20,068 |  |  | 24,113 |
Long-term debt, net |  | $ | 393,015 |  |  | $ | 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 September 30, 2025 and December 31, 2024:
| As of September 30, 2025 |  | As of December 31, 2024
(in thousands) | Outstanding Debt | Unamortized Discounts and Issuance Costs | Debt, as reported |  | Outstanding Debt | Unamortized Discounts and Issuance Costs | Debt, as reported
2024 Senior Notes | $ | 400,000 |  | $ | (19,032) |  | $ | 380,968 |  |  | $ | 400,000 |  | $ | (21,977) |  | $ | 378,023 |
Term Loan B | — |  | — |  | — |  |  | 121,863 |  | — |  | 121,863 |
Schedule of Interest Expense as Reported in the Consolidated Statements of Income | 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) | 2025 | 2024 |  | 2025 | 2024
Cash interest expense: |  |  |  |  |
Interest on Term Loan B | $ | — |  | $ | 7,121 |  |  | $ | 876 |  | $ | 22,693 |
Interest on 2024 Senior Notes | 11,875 |  | 11,875 |  |  | 35,625 |  | 20,583 |
Interest on 2017 Senior Notes | — |  | — |  |  | — |  | 11,554 |
Interest on Revolver | — |  | 20 |  |  | 193 |  | 993 |
Other interest | 519 |  | 686 |  |  | 1,431 |  | 1,904 |
Total cash interest expense | 12,394 |  | 19,702 |  |  | 38,125 |  | 57,727 |
Non-cash interest expense:(a) |  |  |  |  |
Amortization of discount and debt issuance costs on Term Loan B | — |  | 494 |  |  | — |  | 2,285 |
Amortization of debt issuance costs on Revolver | 140 |  | 140 |  |  | 419 |  | 493 |
Amortization of debt issuance costs on 2024 Senior Notes | 1,015 |  | 887 |  |  | 2,945 |  | 1,519 |
Amortization of debt issuance costs on 2017 Senior Notes | — |  | — |  |  | — |  | 392 |
Non-cash portion of loss on extinguishment | — |  | — |  |  | — |  | 1,198 |
Total non-cash interest expense | 1,155 |  | 1,521 |  |  | 3,364 |  | 5,887 |
Total interest expense | $ | 13,549 |  | $ | 21,223 |  |  | $ | 41,489 |  | $ | 63,614 |
____________________________________________________________________________________________________ (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 nine months ended September 30, 2025.

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