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Long-Term Obligations (Tables) | 3 Months Ended
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Mar. 31, 2023
LOng-Term Obligations Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The carrying values of our long-term debt consist of the following (in thousands):
| Effective Interest Rate |  | As of March 31, 2023 |  | Effective Interest Rate |  | As of December 31, 2022 |  |
Senior Secured Credit Facilities: |  |  |  |  |  |  |  |  |
Term Loan A — principal | 7.42 | % |  | $ | 828,750 |  |  | 3.99 | % |  | $ | 834,000 |  |  |
Term Loan B — principal | 7.76 | % |  | 841,500 |  |  | 4.61 | % |  | 843,625 |  |  |
Revolving Credit Facility — principal | — | % |  | — |  |  | — | % |  | — |  |  |
Less unamortized debt issuance costs(1) |  |  | (22,991) |  |  |  |  | (24,262) |  |  |
Total carrying value of long-term debt |  |  | 1,647,259 |  |  |  |  | 1,653,363 |  |  |
Less current portion of long-term debt |  |  | 35,063 |  |  |  |  | 29,688 |  |  |
Long-term debt, net |  |  | $ | 1,612,196 |  |  |  |  | $ | 1,623,675 |  |  |
_______________________________ (1) Comprised of $11.8 million and $11.2 million relating to the Term Loan A and the Term Loan B, respectively, as of March 31, 2023.
Schedule of Maturities of Long-term Debt | As of March 31, 2023, the aggregate amount of principal repayments of our long-term debt (including any current portion) for each of the next five years is approximately (in thousands):
Remainder of 2023 |  | $ | 22,312 |
2024 |  | 51,000 |
2025 |  | 51,000 |
2026 |  | 72,250 |
2027 |  | 672,563 |
2028 |  | 8,500 |
Thereafter |  | 792,625 |
Total |  | $ | 1,670,250 |
Interest expense on long term debt | The following table presents the total interest expense related to our long-term debt (in thousands):
| Three months ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Contractual interest | $ | 29,263 |  |  | $ | 10,017 |  |  |  |  |
Amortization of debt issuance costs | 1,701 |  |  | 1,643 |  |  |  |  |
Commitment fee — Revolving Credit Facility | 368 |  |  | 351 |  |  |  |  |
Total long-term debt-related interest expense | $ | 31,332 |  |  | $ | 12,011 |  |  |  |  |
Applicable Margin Based on Leverage Ratio | Effective on the first Adjustment Date, as defined in the Credit Agreement, occurring subsequent to our quarter ending June 30, 2022, the applicable margin for the Term Loan A and borrowings under the Revolving Credit Facility will be determined by reference to the leverage ratio in effect from time to time as set forth in the following table:
Leverage Ratio | Applicable Margin for Term SOFR Loans | Applicable Margin for Base Rate Loans | Commitment Fee Rate
Greater than 4.00 to 1.0 | 2.25% | 1.25% | 0.35%
Less than or equal to 4.00 to 1.0 but greater than 3.00 to 1.0 | 2.00% | 1.00% | 0.30%
Less than or equal to 3.00 to 1.0 but greater than 2.50 to 1.0 | 1.75% | 0.75% | 0.25%
Less than or equal to 2.50 to 1.0 but greater than 2.00 to 1.0 | 1.50% | 0.50% | 0.20%
Less than or equal to 2.00 to 1.0 | 1.25% | 0.25% | 0.15%

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