XML 49 R12.htm IDEA: XBRL DOCUMENT v3.25.2
Debt
 6 Months Ended
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 atWeighted 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 loans780,000 790,000 5.53 %5.59 %
Real estate loans54,270 55,135 5.23 %5.23 %
Other debt691 2,783 9.13 %8.77 %
Total debt1,160,361 1,077,818 5.78 %5.75 %
Less: Unamortized discount and debt issuance costs1,683 2,833 
Less: Debt, current portion22,566 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 2022393 January 2023$1,710 
January 2023363 April 2023$2,491 
April 2024363 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