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LONG-TERM DEBT (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consisted of the following (in thousands):
| December 31, 2021 |  | December 31, 2020
| Carrying Value(1) |  | Fair Value |  | Carrying Value(1) |  | Fair Value
ABL Revolver | $ | — |  |  | — |  |  | $ | — |  |  | — |
Term Loan B | 326,700 |  |  | 325,883 |  |  | 330,000 |  |  | 325,875 |
Total Debt | 326,700 |  |  | 325,883 |  |  | 330,000 |  |  | 325,875 |
Less: Current maturities | (3,300) |  |  | (3,292) |  |  | (3,300) |  |  | (3,259) |
Total Long-term Debt | $ | 323,400 |  |  | $ | 322,591 |  |  | $ | 326,700 |  |  | $ | 322,616 |
(1) Carrying value amount do not include unamortized debt issuance costs of $8.0 million and $9.6 million for year ended December 31, 2021 and December 31, 2020 respectively.
Schedule of Secured Leverage Ratio to EBITDA | Secured Leverage Ratio – The Term Loan B Agreement requires that the Company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of unrestricted cash, not to exceed $150 million) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2021, is either equal to or less than as indicated in the table below:
| Fiscal Quarter | Secured Leverage Ratio
| December 31, 2021 | 5.50:1:00
| March 31, 2022 | 5.25:1:00
| June 30, 2022 | 5.25:1:00
| September 30, 2022 | 5.25:1:00
| December 31, 2022 | 5.00:1:00
| March 31, 2023 | 5.00:1:00
| June 30, 2023 and each Fiscal Quarter thereafter | 4.75:1:00
Schedule of Interest Rate on Borrowings Outstanding | The interest rates on our borrowings outstanding at December 31, 2021 and 2020, including the amortization of debt issuance costs, were as follows:
| December 31,
| 2021 |  | 2020
ABL Revolver | 1.85 | % |  | 1.90 | %
Term Loan B | 5.75 | % |  | 5.75 | %
Weighted average interest rate | 5.75 | % |  | 5.75 | %
Schedule of Maturities of Long-term Debt | As of December 31, 2021, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):
| Year | $ Amount
| 2022 | $ | 3,300 |
| 2023 | 3,300 |
| 2024 | 3,300 |
| 2025 | 3,300 |
| 2026 | 3,300 |
| Thereafter | 310,200 |
| Total | $ | 326,700 |

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