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LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt consisted of the following (in thousands):

 December 31, 2021December 31, 2020
 
Carrying Value(1)
Fair Value
Carrying Value(1)
Fair Value
ABL Revolver$— — $— — 
Term Loan B326,700 325,883 330,000 325,875 
Total Debt326,700 325,883 330,000 325,875 
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,
 20212020
ABL Revolver1.85 %1.90 %
Term Loan B5.75 %5.75 %
Weighted average interest rate5.75 %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 
20233,300 
20243,300 
20253,300 
20263,300 
Thereafter310,200 
Total$326,700