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Subsequent Events (Tables)
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Schedule of long-term debt
Long-term debt consists of the following at year-end:
 20242023
2029 Notes$334,200 $334,200 
2027 Notes379,265 379,265 
Finance lease obligations9,087 8,498 
Other long-term borrowings2,791 1,700 
Subtotal725,343 723,663 
Discount on 2029 Notes(3,294)(4,059)
Discount on 2027 Notes(1,753)(2,571)
Premium on 2029 Notes308 382 
Premium on 2027 Notes783 1,141 
Deferred financing costs(2,789)(3,715)
Total718,598 714,841 
Current portion of long-term debt2,624 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 Currency20242023Maturity
2029 Notes6.125 %USD$334,200 $334,200 May 27, 2029
2027 Notes5.875 %USD379,265 379,265 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)
202420232022202420232022202420232022
2029 Notes$20,469 $20,511 $14,299 $469 $527 $342 $691 $695 $715 
2027 Notes22,282 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:
TransactionDatePrincipal AmountAverage PriceEarly Redemption PriceTotal payment (i)
IssuanceApril 4, 2017$265,000 — — $— 
Additional issuanceSeptember 11, 2020$150,000 — — $— 
Additional issuance of 2027 Notes related to 2023 exchangeOctober 13, 2020$138,354 — — $— 
Open market repurchasesDuring 2021$(17,368)105.74 %— $(18,364)
Cash TenderMay 13, 2022$(150,000)99.94 %103.00 %$(154,407)
Open market repurchasesDuring 2022$(4,721)98.01 %— $(4,627)
Open market repurchasesDuring 2023$(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:
TransactionDatePrincipal AmountAverage PriceTotal payment (i)
IssuanceApril 27, 2022$350,000 — $— 
Open market repurchasesDuring 2022$(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$1,000January 23, 2025

(i) $6,721 of repurchases held by Arcos Dorados BV included.
(ii) Expressed as whole number.