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Debt | 6 Months Ended
--- | ---
Jun. 30, 2024
Debt Disclosure [Abstract] |
Debt | Debt Total debt consisted of the following:
| Interest rate |  | June 30, 2024 |  | December 31, 2023
Term loan due March 2026 | SOFR + 2.25% |  | $ | 261,500 |  |  | $ | 285,500 |
Notes due March 2027 | 6.875% |  | 380,000 |  |  | 380,000 |
Notes due March 2028 | SOFR + 6.9% |  | 272,938 |  |  | 274,313 |
Term loan due March 2028 | SOFR + 4.0% |  | 435,375 |  |  | 437,625 |
Notes due March 2029 | 7.25% |  | 350,000 |  |  | 350,000 |
Notes due January 2037 | 5.25% |  | 35,841 |  |  | 35,841 |
Notes due March 2043 | 6.70% |  | 425,000 |  |  | 425,000 |
Other debt |  |  | 540 |  |  | 1,181 |
Principal amount |  |  | 2,161,194 |  |  | 2,189,460 |
Less: unamortized costs, net |  |  | 38,870 |  |  | 43,428 |
Total debt |  |  | 2,122,324 |  |  | 2,146,032 |
Less: current portion long-term debt |  |  | 57,290 |  |  | 58,931 |
Long-term debt |  |  | $ | 2,065,034 |  |  | $ | 2,087,101 |
At June 30, 2024, the interest rate on the 2026 Term Loan was 7.7%, the interest rate on the 2028 Term Loan was 9.5% and the interest rate on the March 2028 notes was 12.2%. The credit agreement that governs our secured revolving credit facility and the term loan due March 2026 (the "Credit Agreement") contains certain financial covenants. These covenants require us to maintain, on a quarterly basis, a maximum leverage ratio and a minimum interest coverage ratio, both of which are defined and calculated in accordance with the credit agreement. The maximum leverage ratio was 4.0x as of June 30, 2024 and the minimum interest coverage ratio was 1.75x as of June 30, 2024 and increases to 2.0x as of March 31, 2025. At June 30, 2024, we were in compliance with these financial covenants. In August 2024, we amended the Credit Agreement and the note purchase agreement that governs our $275 million notes due March 2028. The amendments, among other things, allow for relief under our covenants for expenses incurred pursuant to the Ecommerce Restructuring (as discussed in Note 17 Subsequent Events). Management expects that we will remain in compliance with these amended financial covenants over the next twelve months. However, events and circumstances could occur, some beyond our control, that could adversely impact our compliance with these covenants and require us to obtain a waiver from our lenders, modify our existing covenants or refinance certain debt to cure the noncompliance. If we are unable to cure the noncompliance, amounts due under our revolving credit facility and term loan due March 2026 could be called by our lenders. At June 30, 2024, there were no outstanding borrowings under the revolving credit facility. Borrowings under our secured debt are secured by assets of the company.

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