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LONG-TERM DEBT
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
In January 2022, we entered into a $300.0 million five-year term loan, or Term Loan, with the principal amount due and payable upon maturity on January 27, 2027. Interest is payable quarterly and is determined on a floating interest rate currently calculated on the Secured Overnight Financing Rate with a 1.0% floor, plus 9.0%. The Term Loan can be repaid at anytime through the maturity date as long as we provide at least three business days of written notice and pay a prepayment premium, which expired on July 26, 2024.
The following summarizes the carrying value of long-term debt and warrants as of June 30, 2024 and December 31, 2023:
June 30, 2024December 31, 2023
(dollars in millions)
Term Loan$300.0 $300.0 
Accrued interest payable
7.5 7.9 
Unamortized discount and debt issuance costs and warrants(7.4)(8.9)
Total$300.1 $299.0