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LONG-TERM DEBT (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consisted of the following (in thousands):
| December 31, |  |
| 2023 |  | 2022
ABL Revolver | $ | — |  |  |  |  | $ | — |  |  |
Senior Secured Term Loan B due December 23, 2027(1) | — |  |  |  |  | 428,133 |  |  |
Senior Secured Term Loan B due October 13, 2030(2) | 548,625 |  |  |  |  | — |  |  |
Total debt | 548,625 |  |  |  |  | 428,133 |  |  |
Less: current maturities | (5,500) |  |  |  |  | (4,369) |  |  |
Total long-term debt | 543,125 |  |  |  |  | 423,764 |  |  |
Unamortized discount and debt issuance costs | 22,428 |  |  |  |  | 14,559 |  |  |
Long-term debt, net of unamortized discount and debt issuance costs | $ | 520,697 |  |  |  |  | $ | 409,205 |  |  |
(1) As of December 31, 2022 the fair value of the Term Loan B due December 23, 2027 was $411.0 million (2) As of December 31, 2023 the fair value of the Term Loan B due October 13, 2030 was $554.1 million |  |
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 $200 million ) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2023, is either equal to or less than as indicated in the table below:
Fiscal Quarter |  | Secured Leverage Ratio |
December 31, 2023 |  | 5.75:1.00 |
March 31, 2024 |  | 5.75:1.00 |
June 30, 2024 |  | 5.50:1.00 |
September 30, 2024 |  | 5.50:1.00 |
December 31, 2024 |  | 5.50:1.00 |
March 31, 2025 |  | 5.25:1.00 |
June 30, 2025 |  | 5.25:1.00 |
September 30, 2025 |  | 5.25:1.00 |
December 31, 2025 |  | 5.00:1.00 |
March 31, 2026 |  | 5.00:1.00 |
June 30, 2026 and thereafter |  | 4.75:1.00 |
As of December 31, 2023, the Company’s Secured Leverage Ratio was 2.10 to 1.00.
Schedule of Maturities of Long-term Debt | As of December 31, 2023, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):
|  | Amount
2024 |  | $ | 5,500 |
2025 |  | 5,500 |
2026 |  | 5,500 |
2027 |  | 5,500 |
2028 |  | 5,500 |
Thereafter |  | 521,125 |
Total |  | $ | 548,625 |

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