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Subsequent Events | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | 15. Subsequent Events Dividend Declaration. On October 14, 2025, we announced that our Board of Directors declared a quarterly cash dividend of $0.77 per common share. As such, we expect to pay approximately $12.8 million (including dividend equivalents) on or about November 14, 2025 to stockholders of record and the holders of certain restricted stock units at the close of business on October 24, 2025. Revolving Credit Facility. On October 14, 2025, we entered into amendment No. 5 to our Revolving Credit Facility with a syndicate of commercial lenders led by Wells Fargo Bank, National Association (the “Amended Credit Facility”). The Amended Credit Facility, among other things, (i) contains a maximum commitment amount of $575.0 million (of which up to a maximum of $50.0 million may be utilized for letters of credit), (ii) allows the Company to request an increase of the revolving commitments by up to an amount equal to $200.0 million plus an additional amount for a first-in last-out tranche, subject to certain conditions and the agreement of one or more lenders to provide such increased commitment, and (iii) is set to mature on the earlier of (i) March 1, 2028, if by that date the scheduled maturity of the Company’s senior notes due 2028 has not been extended to a date not earlier than 90 days after October 14, 2030, repaid in full, or refinanced or replaced on terms mutually satisfactory to the Borrowers and Wells Fargo; and (ii) October 14, 2030. The amount we can borrow under the Amended Credit Facility is determined by the value of our eligible accounts receivable and inventory and certain other assets, which serve as collateral for the Amended Credit Facility. Our effective interest rate on outstanding borrowings under the Amended Credit Facility bear interest at a rate equal to either a base rate or the secured overnight financing rate (SOFR), plus, in each case, a specified variable percentage of between 125 basis points and 150 basis points for SOFR loans (or 25 basis points and 50 basis points for base rate loans) determined by reference to the then-remaining borrowing availability under the Amended Credit Facility and, in certain instances, a fixed margin. At the time of execution of the Amended Credit Facility, we had no outstanding borrowings under the previous revolving credit facility nor did we borrow on the Amended Credit Facility. As of the effective date, under the Amended Credit Facility, there were outstanding letters of credit totaling $14.6 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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