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Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of long-term debt, net

Long-term debt, net, consists of the following (in thousands):

						March 31, 2024						December 31, 2023
Senior notes						$	400,000					$	400,000
Revolving facilities (a)						369,300						364,000
Outstanding debt						$	769,300					$	764,000
Unamortized debt issuance costs						(6,183)						(6,578)
Current portion of long-term debt						(1,800)						—
Total long-term debt, net						$	761,317					$	757,422

___________________________________

(a)    Revolving facilities as of March 31, 2024 includes $1.8 million outstanding under the PJMF Revolving Facility as defined and discussed below.

Schedule of notional value of derivatives

As of March 31, 2024, we have the following interest rate swap agreements:

Effective Dates

Floating Rate Debt

Fixed Rates

June 23, 2023 through June 30, 2025

$

50 million

4.55%

June 23, 2023 through June 30, 2025

$

50 million

4.55%

Schedule of location and amounts of derivatives in the financial statements

The following table provides information on the location and amounts of our current and expired swaps in the accompanying condensed consolidated financial statements (in thousands):

						Interest Rate Swap Derivatives
Balance Sheet Location						Fair Value March 31, 2024						Fair Value December 31, 2023
Prepaid and other current assets						$	367					$	107
Other long-term liabilities						$	72					$	483

Schedule of effect of derivatives on the financial statements

The effect of derivative instruments on the accompanying condensed consolidated financial statements is as follows (in thousands):

Derivatives - Cash Flow Hedging Relationships						Amount of Gain or (Loss) Recognized in AOCL on Derivative						Location of (Loss) or Gain Reclassified from AOCL into Income						Amount of (Loss) or Gain Reclassified from AOCL into Income						Total Net Interest Expense on Condensed Consolidated Statements of Operations
Interest rate swaps for the three months ended:
March 31, 2024						$	672					Interest expense						$	200					$	(11,063)
March 26, 2023						$	259					Interest expense						$	(207)					$	(9,021)

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