XML 48 R39.htm IDEA: XBRL DOCUMENT v3.25.3
Long-Term Debt - Additional Information (Detail) - USD ($)
9 Months Ended
Dec. 04, 2024
Aug. 23, 2024
Aug. 22, 2024
May 02, 2024
Jun. 12, 2023
Jun. 09, 2022
Aug. 25, 2021
Apr. 30, 2020
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Jan. 22, 2024
Debt Instrument [Line Items]                        
Debt issuance costs                   $ 3,100,000    
Payment to lenders                   900,000    
Write-off of debt issuance costs and discounts                   2,500,000    
Outstanding letters of credit                 $ 10,900,000      
Aggregate principal amount                 $ 2,251,875,000   $ 2,263,442,000  
Debt Instrument Redemption Period One                        
Debt Instrument [Line Items]                        
Debt instrument, maturity date   Nov. 22, 2029                    
Debt Instrument Redemption Period One | SOFR                        
Debt Instrument [Line Items]                        
Credit spread adjustment rate         0.11448%              
Debt Instrument, Redemption, Period Two                        
Debt Instrument [Line Items]                        
Debt instrument, maturity date   Aug. 25, 2028                    
Debt Instrument, Redemption, Period Two | SOFR                        
Debt Instrument [Line Items]                        
Credit spread adjustment rate         0.26161%              
Debt Instrument, Redemption, Period Three | SOFR                        
Debt Instrument [Line Items]                        
Credit spread adjustment rate         0.42826%              
Senior Secured Credit Facilities [Member]                        
Debt Instrument [Line Items]                        
Debt Instrument Redemption Description                 In addition, the Senior Secured Credit Facilities require SEA to prepay outstanding term loan borrowings, subject to certain exceptions, with:-50% (which percentage will be reduced to 25% and 0% if the Company satisfies certain net first lien leverage ratios) of annual excess cash flow, as defined under the Senior Secured Credit Facilities;-100% (which percentage will be reduced to 50% and 0% if the Company satisfies certain net first lien leverage ratios) of the net cash proceeds of all non-ordinary course asset sales or other non-ordinary course dispositions of property, in each case subject to certain exceptions and reinvestment rights;-100% of the net cash proceeds of any issuance or incurrence of debt, other than proceeds from debt permitted under the Senior Secured Credit Facilities.      
Letter of credit participation fees                 0.125%      
Cash paid for interest                 $ 110,900,000 $ 128,300,000    
Senior Notes [Member]                        
Debt Instrument [Line Items]                        
Debt instrument, maturity date             Aug. 15, 2029          
Senior debt             $ 725,000,000          
Debt instrument interest rate percentage             5.25%   5.25%   5.25%  
Debt Instrument Redemption Description             On or after August 15, 2024, SEA may redeem the Senior Notes, in whole at any time or in part from time to time, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, if redeemed during the 12-month period commencing on August 15 of the years as follows: (i) in 2024 at 102.625%; (ii) in 2025 at 101.313%; and (iii) in 2026 and thereafter at 100%. Additionally, upon the occurrence of specified change of control events, each holder will have the right to require SEA to repurchase all or any part of such holder’s notes at a purchase price in cash equal to 101%.          
Interest accrue on senior notes             5.25%          
Aggregate principal amount                 $ 725,000,000   $ 725,000,000  
Percentage Of notes redeemable after change of control             101.00%          
Senior Notes [Member] | Debt Instrument Redemption Period One                        
Debt Instrument [Line Items]                        
Redemption percentage             102.625%          
Senior Notes [Member] | Debt Instrument, Redemption, Period Two                        
Debt Instrument [Line Items]                        
Redemption percentage             101.313%          
Senior Notes [Member] | Debt Instrument, Redemption, Period Three                        
Debt Instrument [Line Items]                        
Redemption percentage             100.00%          
First-Priority Senior Secured Notes [Member]                        
Debt Instrument [Line Items]                        
Debt instrument, maturity date               May 01, 2025        
Redemption of First-Priority senior secured notes       $ 227,500,000                
Senior debt               $ 227,500,000        
Debt instrument interest rate percentage               8.75%        
Revolving Credit Facility [Member]                        
Debt Instrument [Line Items]                        
Debt instrument, maturity date     Aug. 25, 2026                  
Increase of commitments   $ 700,000,000 $ 390,000,000                  
Credit facility earlier maturity date   Aug. 23, 2029                    
Credit facility maturity date   May 26, 2028                    
Incremental amendment to revolving facility commitments           $ 5,000,000            
Debt Instrument Redemption Description                 Borrowings under the Revolving Credit Facility bore interest at a fluctuating rate per annum equal to, at SEA’s option, (i) ABR (provided that in no event would such ABR rate with respect to the Revolving Loans (as defined below) be less than 1.00% per annum) plus an applicable margin equal to 1.25% or (ii) Term SOFR (provided that in no event would such Term SOFR rate with respect to the Revolving Loans be less than 0.00%) plus an applicable margin equal to 2.25%.      
Long term debt, outstanding amount                 $ 689,100,000      
Revolving Credit Facility [Member] | Senior Secured Credit Facilities [Member]                        
Debt Instrument [Line Items]                        
Aggregate principal amount           $ 390,000,000     $ 700,000,000      
Commitment fee payable by the company                 0.20%      
Restrictive Covenants [Member]                        
Debt Instrument [Line Items]                        
Total net leverage ratio not to be exceeded                 425.00%      
Restrictive Covenants [Member] | Debt Agreement [Member]                        
Debt Instrument [Line Items]                        
Total net leverage ratio, as calculated                 316.00%      
Maximum [Member] | Restrictive Covenants [Member] | Senior Secured Credit Facilities [Member]                        
Debt Instrument [Line Items]                        
Credit facility agreement maximum required first lien secured leverage ratio                 625.00%      
Excludable letters of credit under maximum required first lien secured leverage ratio                 $ 30,000,000      
Minimum [Member] | Restrictive Covenants [Member] | Senior Secured Credit Facilities [Member]                        
Debt Instrument [Line Items]                        
Credit facility agreement maximum required first lien secured leverage ratio                 100.00%      
Minimum percentage of funded loan and letters of credit for covenant to apply                 35.00%      
Initial Term B-2 Loans [Member]                        
Debt Instrument [Line Items]                        
Debt Instrument Redemption Description                 Borrowings under the Initial Term B-2 Loans bore interest at a fluctuating rate per annum equal to, at SEA’s option, (i) ABR (as defined below)(provided that in no event would such ABR rate with respect to the Initial Term B-2 Loans be less than 1.50% per annum) plus an applicable margin equal to 1.50% or (ii) Term SOFR-based benchmark rate ("Term SOFR") (provided that in no event would such Term SOFR rate with respect to the Initial Term B-2 Loans be less than 0.50%) plus an applicable margin equal to 2.50%      
Aggregate principal amount                       $ 1,173,000,000
Term Loan [Member] | Minimum [Member] | Revolving Credit Facility [Member]                        
Debt Instrument [Line Items]                        
Aggregate principal amount   $ 225,000,000                    
Incremental Term B-2 Loans [Member]                        
Debt Instrument [Line Items]                        
Aggregate principal amount       $ 380,000,000                
Term B-3 Loans [Member]                        
Debt Instrument [Line Items]                        
Aggregate principal amount drawn                 $ 1,526,900,000      
Debt instrument, maturity date Dec. 04, 2031                      
Prepayment premium or fee percentage                 1.00%      
Debt Instrument Redemption Description                 Borrowings under the Term B-3 Loans bear interest at a fluctuating rate per annum equal to, at SEA’s option, (i) ABR (provided that in no event shall such ABR rate with respect to the Term B-3 Loans be less than 1.50% per annum) plus an applicable margin equal to 1.00% or (ii) Term SOFR (provided that in no event shall such Term SOFR rate with respect to the Term B-3 Loans be less than 0.50%) plus an applicable margin equal to 2.00%.      
Amortization Payments of Term Loan 0.25%                      
Aggregate principal amount $ 1,542,300,000               $ 1,526,875,000   $ 1,538,442,000  
Term B-3 Loans [Member] | Senior Secured Credit Facilities [Member]                        
Debt Instrument [Line Items]                        
Debt Instrument Redemption Description                 Borrowings under the Term B-3 Loans bear interest at a fluctuating rate per annum equal to, at SEA’s option, (i) a base rate equal to the higher of (a) the federal funds rate plus 1/2 of 1%, (b) the rate of interest quoted in the print edition of the Wall Street Journal Money Rates Section as the prime rate as in effect from time to time and (c) one-month Term SOFR plus 1% per annum ("ABR")(provided that in no event shall such ABR rate with respect to the Term B-3 Loans be less than 1.50% per annum), in each case, plus an applicable margin of 1.00% or (ii) an Term SOFR rate for the applicable interest period (provided that in no event shall such Term SOFR rate with respect to the Term B-3 Loans be less than 0.50% per annum) plus an applicable margin of 2.00%.      
Amortization Payments of Term Loan             0.25%          
Term B-3 Loans [Member] | Revolving Credit Facility [Member]                        
Debt Instrument [Line Items]                        
Credit facility earlier maturity date                 Aug. 23, 2029      
Debt Instrument Redemption Description                 Borrowings under the Revolving Credit Facility bear interest at a fluctuating rate per annum equal to, at SEA’s option, (i) ABR (provided that in no event shall such ABR rate with respect to the revolving loans be less than 1.00% per annum) plus an applicable margin equal to 0.75% or (ii) Term SOFR (provided that in no event shall such Term SOFR rate with respect to the Revolving Loans be less than 0.00%) plus an applicable margin equal to 1.75%.      
Restatement Agreement [Member] | Maximum [Member]                        
Debt Instrument [Line Items]                        
Senior secured financing                 $ 2,226,900,000      
Revolving Loans [Member] | Senior Secured Credit Facilities [Member]                        
Debt Instrument [Line Items]                        
Debt Instrument Redemption Description                 Borrowings under the Revolving Loans bear interest at a fluctuating rate per annum equal to, at SEA’s option, (i) ABR (provided that in no event shall such ABR rate with respect to the Revolving Loans be less than 1.00% per annum) plus an applicable margin equal to 0.75% or (ii) Term SOFR (provided that in no event shall such Term SOFR rate with respect to the Revolving Loans be less than 0.00%) plus an applicable margin of 1.75%.