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Debt | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Debt |
6. Debt
The following table summarizes our debt balances and the related weighted average effective interest rates, which includes the effect of interest rate swap agreements.
| Debt balance at |  | Weighted average effective interest rate at
(dollars in thousands) | June 30, 2025 | December 31, 2024 |  | June 30, 2025 | December 31, 2024
Credit facility: |  |  |  |  |
Revolving credit loans | $ | 325,400 |  | $ | 229,900 |  |  | 6.47 | % | 6.37 | %
Term loans | 780,000 |  | 790,000 |  |  | 5.53 | % | 5.59 | %
Real estate loans | 54,270 |  | 55,135 |  |  | 5.23 | % | 5.23 | %
Other debt | 691 |  | 2,783 |  |  | 9.13 | % | 8.77 | %
Total debt | 1,160,361 |  | 1,077,818 |  |  | 5.78 | % | 5.75 | %
Less: Unamortized discount and debt issuance costs | 1,683 |  | 2,833 |  |  |  |
Less: Debt, current portion | 22,566 |  | 23,875 |  |  | 6.26 | % | 6.21 | %
Debt, net of current portion | $ | 1,136,112 |  | $ | 1,051,110 |  |  | 5.77 | % | 5.73 | %
2024 Credit Facilities In April 2024, we entered into a five-year $1.5 billion senior credit facility (the "2024 Credit Facilities"). At June 30, 2025, we were in compliance with our debt covenants under the 2024 Credit Facilities. Real estate loans In August 2020, we completed the purchase of our global headquarters facility. As part of the purchase price, we assumed the seller’s obligations under two senior secured notes with a then-aggregate outstanding principal amount of $61.1 million (collectively, the “Real Estate Loans”). The Real Estate Loans require periodic principal payments and the balance of the Real Estate Loans are due upon maturity in April 2038. At June 30, 2025, we were in compliance with our debt covenants under the Real Estate Loans. Other debt From time to time, we enter into third-party financing agreements for purchases of software and related services for our internal use. Generally, the agreements are non-interest-bearing notes requiring annual payments. Interest associated with the notes is imputed at the rate we would incur for amounts borrowed under our then-existing credit facility at the inception of the notes. The following table summarizes our currently effective supplier financing agreements as of June 30, 2025:
(dollars in thousands) | Term in Months | Number of Annual Payments | First Annual Payment Due | Original Loan Value
Effective dates of agreements (1): |  |  |  |
December 2022 | 39 | 3 |  | January 2023 | $ | 1,710 |
January 2023 | 36 | 3 |  | April 2023 | $ | 2,491 |
April 2024 | 36 | 3 |  | May 2024 | $ | 2,073 |
(1)Represent noncash investing and financing transactions during the periods indicated as we purchased software and services by assuming directly related liabilities. The changes in supplier financing obligations during the six months ended June 30, 2025, consisted of the following:
(dollars in thousands) | Total
Balance at December 31, 2024 | $ | 2,783 |
Additions | — |
Payments | (2,092) |
Balance at June 30, 2025 | $ | 691 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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