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Long-term debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consists of the following at year-end:

						2024						2023
2029 Notes						$	334,200					$	334,200
2027 Notes						379,265						379,265
Finance lease obligations						9,087						8,498
Other long-term borrowings						2,791						1,700
Subtotal						725,343						723,663
Discount on 2029 Notes						(3,294)						(4,059)
Discount on 2027 Notes						(1,753)						(2,571)
Premium on 2029 Notes						308						382
Premium on 2027 Notes						783						1,141
Deferred financing costs						(2,789)						(3,715)
Total						718,598						714,841
Current portion of long-term debt						2,624						1,803
Long-term debt, excluding current portion						$	715,974					$	713,038

The following table presents additional information related to the 2029 and 2027 Notes (the “Notes”):

															Principal as of December 31,
			Annual interest rate						Currency						2024						2023						Maturity
2029 Notes			6.125		%				USD						$	334,200					$	334,200					May 27, 2029
2027 Notes			5.875		%				USD						379,265						379,265						April 4, 2027

The following table presents additional information for the fiscal years ended December 31, 2024, 2023 and 2022:

						Interest Expense (i)																		DFC Amortization (i)																		Amortization of Premium/Discount, net (i)
						2024						2023						2022						2024						2023						2022						2024						2023						2022
2029 Notes						$	20,469					$	20,511					$	14,299					$	469					$	527					$	342					$	691					$	695					$	715
2027 Notes						22,282						22,218						25,538						457						466						759						460						478						785

(i)These charges are included within “Net interest expense and other financing results” in the consolidated statements of income.

The following table summarizes the activity of 2027 Notes as of December 31, 2024:

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)
Open market repurchases						During 2023						$	(2,000)					95.20		%				—						$	(1,904)
Principal amount of 2027 Notes as of December 31, 2024:												$	379,265

(i) Not including accrued and unpaid interest

The following table summarizes the activity of 2029 Notes as of December 31, 2024:

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)
Open market repurchases						During 2023						$	(3,000)					93.76		%										$	(2,813)
Principal amount of 2029 Notes as of December 31, 2024:												$	334,200

(i) Not including accrued and unpaid interest

The table below summarizes certain payment terms for the Notes:

Senior Note

Outstanding principal amount (i)

Tender Offer Consideration (ii)

Tender Offer Expiration Date

2027 Notes

$385,986

$1,000

January 23, 2025

(i) $6,721 of repurchases held by Arcos Dorados BV included.

(ii) Expressed as whole number.

Schedule of future payments related to long-term debt

As of December 31, 2024, future payments related to the Company’s long-term debt are as follows:

						Principal						Interest						Total
2025						$	2,624					$	43,491					$	46,115
2026						758						43,424						44,182
2027						380,083						32,224						412,307
2028						886						21,018						21,904
2029						335,144						10,672						345,816
Thereafter						5,848						760						6,608
Total payments						725,343						151,589						876,932
Interest						—						(151,589)						(151,589)
Discount on 2029 Notes						(3,294)						—						(3,294)
Discount on 2027 Notes						(1,753)						—						(1,753)
Premium on 2029 Notes						308						—						308
Premium on 2027 Notes						783						—						783
Deferred financing cost						(2,789)						—						(2,789)
Long-term debt						$	718,598					$	—					$	718,598

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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