XML 37 R29.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Summary of Detail Comprising Debt and Related Book Values | A summary of the detail comprising the Company’s debt and the related book values for the respective periods presented is as follows (in thousands):
| March 31, 2024 |  | December 31, 2023 |
9.000% Second-Priority Senior Secured Notes – due February 2029 | $ | 625,000 |  | $ | — |
9.375% Second-Priority Senior Secured Notes – due February 2031 |  | 625,000 |  |  | — |
12.00% Second-Priority Senior Secured Notes – due January 2026 |  | — |  |  | 638,541 |
11.75% Senior Secured Second Lien Notes – due April 2026 |  | — |  |  | 227,500 |
Bank Credit Facility – matures March 2027(1) |  | 325,000 |  |  | 200,000 |
Total debt, before discount, premium and deferred financing cost |  | 1,575,000 |  |  | 1,066,041 |
Unamortized discount, premium and deferred financing cost, net |  | (41,048 | ) |  | (40,367 | )
Total debt(2) |  | 1,533,952 |  |  | 1,025,674 |
Less: Current portion of long-term debt |  | — |  |  | 33,060 |
Long-term debt | $ | 1,533,952 |  | $ | 992,614 |
(1) As of March 31, 2024, the Company had outstanding borrowings at a weighted average interest rate of 8.42%. (2) As of March 31, 2024, the Company was in compliance with all debt covenants.
Summary of Redemption Prices of 9.000% and 9.375% Notes | Thereafter, the Company may redeem all or a portion of the 9.000% Notes in whole at any time or in part from time to time at the following redemption prices (expressed as percentages of the principal amount) plus accrued and unpaid interest if redeemed during the period commencing on February 1 of the years set forth below:
Period |  | Redemption Price |
2026 |  |  | 104.500 | %
2027 |  |  | 102.250 | %
2028 and thereafter |  |  | 100.000 | %
Thereafter, the Company may redeem all or a portion of the 9.375% Notes in whole at any time or in part from time to time at the following redemption prices (expressed as percentages of the principal amount) plus accrued and unpaid interest if redeemed during the period commencing on February 1 of the years set forth below:
Period |  | Redemption Price |
2027 |  |  | 104.688 | %
2028 |  |  | 102.344 | %
2029 and thereafter |  |  | 100.000 | %

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration