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DEBT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Maximum Leverage Ratios

The Company’s maximum Consolidated Total Leverage Ratio (as defined in the March 2023 Amendment) in the financial covenants is outlined below. Concurrent with the Durepair acquisition (see Note 2. Acquisitions and Divestitures), in accordance with the terms of the March 2023 Amendment, the Company elected to increase the maximum Consolidated Total Leverage Ratio to 5.00 from the fiscal quarter ending December 31, 2024 through the fiscal quarter ending September 30, 2025.

Fiscal Quarter Ending						Maximum Consolidated Total Leverage Ratio
March 31, 2023 through September 30, 2024						4.50 to 1.00
December 31, 2024 through September 30, 2025						5.00 to 1.00
December 31, 2025 through June 30, 2026						4.25 to 1.00
September 30, 2026 and the last day of each fiscal quarter thereafter						4.00 to 1.00

Schedule of Contractual Repayments of Long-Term Debt

Contractual repayments of the term loan component of the Senior Credit Facility are due as follows:

As of September 30, 2024						Principal Repayment
Dollars in thousands
Remainder of 2024						$	4,844
2025						33,906
2026						38,750
2027						53,281
2028						634,531
						$	765,312

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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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