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Debt and Credit Facilities (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | The following table presents total debt (in thousands):
| March 31, 2025 |  | December 31, 2024
Current portion of long-term debt |  |  |
2022 Credit Agreement (1) | $ | — |  |  | $ | 20,000 |
Long-term debt, net of current portion |  |  |
2022 Credit Agreement (1) | 390,000 |  |  | 630,000 |
LSA (weighted average interest rate of 5.17% at March 31, 2025) | 250,000 |  |  | — |
Total long-term debt, net of current portion | 640,000 |  |  | 630,000 |
Total debt | $ | 640,000 |  |  | $ | 650,000 |
(1) As of March 31, 2025, our outstanding revolving credit loan balance under the 2022 Credit Agreement consisted of: •$35.0 million at a weighted average variable interest rate of 5.92%; •$40.0 million which is effectively fixed at 6.45% with interest rate swap agreements through July 2025; •$90.0 million which is effectively fixed at 6.12% with interest rate swap agreements through July 2026; •$75.0 million which is effectively fixed at 6.23% with an interest rate swap agreement through April 2027; •$75.0 million which is effectively fixed at 6.09% with an interest rate swap agreement through May 2027; and •$75.0 million which is effectively fixed at 5.14% with an interest rate swap agreement through August 2028. Availability under the LSA is calculated as follows (in thousands):
| March 31, 2025 |  |
Borrowing base, based on eligible receivables | $ | 296,243 |  |  |
Less: outstanding borrowings (1) | (250,000) |  |  |
Availability under LSA | $ | 46,243 |  |  |
(1) Outstanding borrowings are included in long-term debt, net of current portion on the condensed consolidated balance sheets.
Schedule of Maturities of Long-term Debt | At March 31, 2025, the aggregate maturities of future debt principal payments are as follows (in thousands):
2025 (remaining) | $ | — |
2026 | — |
2027 | 390,000 |
2028 | 250,000 |
Total | $ | 640,000 |

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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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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
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