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Debt (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | The following table summarizes our outstanding debt (in thousands):
| September 30, 2023 |  | December 31, 2022
ABL Credit Facility due 2028 | $ | — |  |  | $ | — |
Term Loan Credit Agreement due 2030 | 547,250 |  |  | — |
7.75% Senior Secured Notes due 2025 | — |  |  | 281,000 |
Term Loan B Facility due 2026 | — |  |  | 203,125 |
12.875% Senior Secured Notes due 2026 | — |  |  | 31,314 |
Other long-term debt | 4,901 |  |  | — |
Principal amount of long-term debt | 552,151 |  |  | 515,439 |
Less: unamortized discount and deferred financing costs | (15,211) |  |  | (9,907) |
Total debt, net of unamortized discount and deferred financing costs | 536,940 |  |  | 505,532 |
Less: current maturities, net of unamortized discount and deferred financing costs | (4,287) |  |  | (10,956) |
Long-term debt, net of current maturities | $ | 532,653 |  |  | $ | 494,576 |
Schedule of Term Loan Agreement | The Term Loan Credit Agreement bears interest at a fluctuating rate per annum equal to either a SOFR rate or base rate “Base Rate”, provided that the Base Rate shall not be below 1.5%, as defined in the Term Loan Credit Agreement. The SOFR rate and Base Rate definitions are summarized below:
SOFR Rate loan | Secured overnight financing rate plus the applicable margin of 4.250% per annum with a stepdown in the applicable margin of 0.25% in the event the Company’s credit rating is upgraded to Ba3/BB-,
Base Rate loan | A per annum rate plus the applicable margin of 3.250%. The base rate is the greatest of:
• | a rate as calculated by the Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (“Federal Funds Rate”) for such day, plus 0.5%;
• | a rate equal to adjusted term SOFR for a one month interest period as of such day plus 1.0%; or
• | a rate as announced by Wells Fargo (the “Prime Rate”).

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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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