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Debt and Short-Term Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Summary of total debt | Total debt at June 30, 2022 and December 31, 2021 follows:
(In thousands) |  | June 30, 2022 |  | December 31, 2021
2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin(1)(2)) |  | $ | 162,830 |  |  | $ | 170,875 |
2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin(1)(3)) |  | 292,393 |  |  | 293,660 |
Note payable due January 1, 2022(1) |  | — |  |  | 758 |
Total debt |  | $ | 455,223 |  |  | $ | 465,293 |
(1)Net of unaccreted discount and unamortized debt issue costs, as applicable. (2)Applicable margin of 1.75% at June 30, 2022 and December 31, 2021. (3)Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at June 30, 2022 and December 31, 2021.
Summary of interest rate swap transaction | As of June 30, 2022, the Company has an interest rate swap agreement, entered into in December 2018, which converts a portion of the interest rate payments on the Company's 2024 Term B Loan from variable to fixed:
Swap Agreement |  | Effective date |  | Maturity Date |  | Notional Amount |  | Variable Rate |  | Fixed Rate
2018 Swap |  | April 2020 |  | November 2024 |  | $250 million |  | 1-month LIBOR |  | 2.89%

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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