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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Interest Margin and Commitment Fee [Table Text Block] | Effective on the first Adjustment Date, as defined in the Credit Agreement, occurring subsequent to our quarter ended June 30, 2022, the applicable margin for the Term Loan A and borrowings under the Revolving Credit Facility is 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%
Applicable Margin on Loan Type | Effective on the first Adjustment Date, as defined in the Credit Agreement, occurring subsequent to our quarter ended June 30, 2022, the applicable margin for the Term Loan B is 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
Greater than 2.75 to 1.0 | 2.50% | 1.50%
Less than 2.75 to 1.0 | 2.25% | 1.25%
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 December 31, 2023 |  |
Senior Secured Credit Facilities: |  |  |  |  |
Term Loan A — principal | 7.67 | % |  | $ | 812,813 |  |  |
Term Loan B — principal | 8.00 | % |  | 835,125 |  |  |
Revolving Credit Facility — principal | — | % |  | — |  |  |
Less unamortized debt issuance costs(1) |  |  | (19,168) |  |  |
Total carrying value of long-term debt |  |  | 1,628,770 |  |  |
Less current portion of long-term debt |  |  | 51,000 |  |  |
Long-term debt, net |  |  | $ | 1,577,770 |  |  |
_______________________________ (1) Comprised of $9.3 million and $9.9 million relating to the Term Loan A and the Term Loan B, respectively.
Schedule of Maturities of Long-Term Debt | As of December 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):
2024 |  | $ | 51,000 |
2025 |  | 51,000 |
2026 |  | 72,250 |
2027 |  | 672,563 |
2028 |  | 8,500 |
Thereafter |  | 792,625 |
Total |  | $ | 1,647,938 |
Interest expense on long-term debt | The following table presents the total interest expense related to our long-term debt (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Contractual interest | $ | 125,550 |  |  | $ | 66,770 |  |  | $ | — |
Amortization of debt issuance costs | 6,814 |  |  | 6,972 |  |  | 240 |
Commitment fee — Revolving Credit Facility | 1,518 |  |  | 1,290 |  |  | 221 |
Total long-term debt-related interest expense | $ | 133,882 |  |  | $ | 75,032 |  |  | $ | 461 |

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