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v3.23.1

Long-term debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of long-term debt | Long-term debt consists of the following at year-end:
|  | 2022 |  | 2021
2029 Notes |  | $ | 337,200 |  |  | $ | — |
2027 Notes |  | 381,265 |  |  | 535,986 |
2023 Notes |  | 18,224 |  |  | 201,763 |
Finance lease obligations |  | 5,032 |  |  | 6,139 |
Other long-term borrowings |  | — |  |  | 7,509 |
Subtotal |  | 741,721 |  |  | 751,397 |
Discount on 2029 Notes |  | (4,833) |  |  | — |
Discount on 2027 Notes |  | (3,414) |  |  | (5,960) |
Discount on 2023 Notes |  | (26) |  |  | (687) |
Premium on 2029 Notes |  | 461 |  |  | — |
Premium on 2027 Notes |  | 1,506 |  |  | 2,613 |
Premium on 2023 Notes |  | 9 |  |  | 254 |
Deferred financing costs |  | (4,720) |  |  | (3,659) |
Total |  | 730,704 |  |  | 743,958 |
Current portion of long-term debt |  | 19,033 |  |  | 4,741 |
Long-term debt, excluding current portion |  | $ | 711,671 |  |  | $ | 739,217 |
The following table presents additional information related to the 2029, 2027 and 2023 Notes (the “Notes”):
|  |  |  |  | Principal as of December 31, |  |
| Annual interest rate |  | Currency |  | 2022 |  | 2021 |  | Maturity
2029 Notes | 6.125 | % |  | USD |  | $ | 337,200 |  |  | $ | — |  |  | May 27, 2029
2027 Notes | 5.875 | % |  | USD |  | 381,265 |  |  | 535,986 |  |  | April 4, 2027
2023 Notes | 6.625 | % |  | USD |  | 18,224 |  |  | 201,763 |  |  | September 27, 2023
The following table presents additional information for the fiscal years ended December 31, 2022, 2021 and 2020:
|  | Interest Expense (i) |  | DFC Amortization (i) |  | Amortization of Premium/Discount, net (i)
|  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
2029 Notes |  | $ | 14,299 |  |  | $ | — |  |  | $ | — |  |  | $ | 342 |  |  | $ | — |  |  | $ | — |  |  | $ | 715 |  |  | $ | — |  |  | $ | — |
2027 Notes |  | 25,538 |  |  | 32,175 |  |  | 20,269 |  |  | 759 |  |  | 758 |  |  | 402 |  |  | 785 |  |  | 805 |  |  | 133 |
2023 Notes |  | 6,230 |  |  | 13,768 |  |  | 20,882 |  |  | 297 |  |  | 224 |  |  | 294 |  |  | 388 |  |  | 287 |  |  | 371 |
(i)These charges are included within “Net interest expense and other financing results” in the consolidated statements of income (loss). The following table summarizes the activity of 2023 Notes as of December 31, 2022:
Transaction |  | Date |  | Principal Amount |  | Average Price |  | Early Redemption Price |  | Total payment (i)
Issuance |  | September 27, 2013 |  | $ | 473,767 |  |  | — |  | — |  | $ | — |
Cash Tender |  | June 28, 2016 |  | $ | (80,000) |  |  | 98.00 | % |  | 101.00 | % |  | $ | (80,800) |
Cash Tender |  | April 12, 2017 |  | $ | (45,698) |  |  | 104.00 | % |  | 107.00 | % |  | $ | (48,885) |
Exchange 2023 Notes for additional issuance 2027 Notes |  | October 13, 2020 |  | $ | (131,476) |  |  | 100.50 | % |  | 105.50 | % |  | $ | (138,474) |
Open market repurchases |  | During 2021 |  | $ | (14,830) |  |  | 109.45 | % |  | — |  | $ | (16,231) |
Cash Tender |  | April 22, 2022 |  | $ | (59,239) |  |  | 105.36 | % |  | — |  | $ | (62,414) |
Optional redemption (ii) |  | June 10, 2022 |  | $ | (123,000) |  |  | 104.58 | % |  | — |  | $ | (128,636) |
Open market repurchases |  | July 5, 2022 |  | $ | (1,300) |  |  | 102.30 | % |  | — |  | $ | (1,330) |
Principal amount of 2023 Notes as of December 31, 2022: | $ | 18,224 |  |  |  |  |  |  |
(i) Not including accrued and unpaid interest (ii) Redemption price established in accordance with the requirements of the indenture governing the 2023 Notes The following table summarizes the activity of 2027 Notes as of December 31, 2022:
Transaction |  | Date |  | Principal Amount |  | Average Price |  | Early Redemption Price |  | Total payment (i)
Issuance |  | April 4, 2017 |  | $ | 265,000 |  |  | — |  |  | — |  |  | $ | — |
Additional issuance |  | September 11, 2020 |  | $ | 150,000 |  |  | — |  |  | — |  |  | $ | — |
Additional issuance of 2027 Notes related to 2023 exchange |  | October 13, 2020 |  | $ | 138,354 |  |  | — |  |  | — |  |  | $ | — |
Open market repurchases |  | During 2021 |  | $ | (17,368) |  |  | 105.74 | % |  | — |  |  | $ | (18,364) |
Cash Tender |  | May 13, 2022 |  | $ | (150,000) |  |  | 99.94 | % |  | 103.00 | % |  | $ | (154,407) |
Open market repurchases |  | During 2022 |  | $ | (4,721) |  |  | 98.01 | % |  | — |  |  | $ | (4,627) |
Principal amount of 2027 Notes as of December 31, 2022: | $ | 381,265 |  |  |  |  |  |  |
(i) Not including accrued and unpaid interest The following table summarizes the activity of 2029 Notes as of December 31, 2022:
Transaction |  | Date |  | Principal Amount |  | Average Price |  |  |  | Total payment (i)
Issuance |  | April 27, 2022 |  | $ | 350,000 |  |  | — |  |  |  |  | $ | — |
Open market repurchases |  | During 2022 |  | $ | (12,800) |  |  | 93.87 | % |  |  |  | $ | (12,015) |
Principal amount of 2029 Notes as of December 31, 2022: | $ | 337,200 |  |  |  |  |  |  |
(i) Not including accrued and unpaid interest
Schedule of future payments related to long-term debt | At December 31, 2022, future payments related to the Company’s long-term debt are as follows:
|  | Principal |  | Interest |  | Total
2023 |  | $ | 19,061 |  |  | $ | 44,574 |  |  | $ | 63,635 |
2024 |  | 875 |  |  | 43,338 |  |  | 44,213 |
2025 |  | 685 |  |  | 43,304 |  |  | 43,989 |
2026 |  | 128 |  |  | 43,293 |  |  | 43,421 |
2027 |  | 381,393 |  |  | 32,092 |  |  | 413,485 |
Thereafter |  | 339,579 |  |  | 31,905 |  |  | 371,484 |
Total payments |  | 741,721 |  |  | 238,506 |  |  | 980,227 |
Interest |  | — |  |  | (238,506) |  |  | (238,506) |
Discount on 2029 Notes |  | (4,833) |  |  | — |  |  | (4,833) |
Discount on 2027 Notes |  | (3,414) |  |  | — |  |  | (3,414) |
Discount on 2023 Notes |  | (26) |  |  | — |  |  | (26) |
Premium on 2029 Notes |  | 461 |  |  | — |  |  | 461 |
Premium on 2027 Notes |  | 1,506 |  |  | — |  |  | 1,506 |
Premium on 2023 Notes |  | 9 |  |  | — |  |  | 9 |
Deferred financing cost |  | (4,720) |  |  | — |  |  | (4,720) |
Long-term debt |  | $ | 730,704 |  |  | $ | — |  |  | $ | 730,704 |

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