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Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Summary of Long-Term Debt

Debt is comprised of the following indebtedness to various lenders:

(in millions)

 

December 31,
2024

 

 

December 31,
2023

 

Extended Term Loan Facility, with
   interest at SOFR plus
5.10% as of
   December 31, 2024 and 2023, respectively,
   (equal to
9.46% and 10.46% at December 31,
   2024 and 2023, respectively) due
2026, net(a)

 

$

402.7

 

 

$

402.9

 

Less: Current maturities

 

 

4.2

 

 

 

4.2

 

Long-term debt, net of current maturities, debt
   discount and deferred financing fees

 

$

398.5

 

 

$

398.7

 

 

(a)
The Extended Term Loan Facility (as defined below), scheduled to mature on May 22, 2026, was recorded net of unamortized discount of $5.6 million and net of unamortized deferred financing fees of $0.9 million as of December 31, 2024. The Extended Term Loan Facility as of December 31, 2023 was recorded net of unamortized discount of $8.9 million and net of unamortized deferred financing fees of $1.5 million. The fair market value of the Company’s debt under the Extended Term Loan Facility was $411.0 million as of December 31, 2024.
Summary of Interest Expense

Interest expense reported in the consolidated statements of (loss) income and comprehensive (loss) income consists of the following:

 

 

Year Ended December 31,

 

(in millions)

 

2024

 

 

2023

 

 

2022

 

Extended Term Loan Facility

 

$

43.0

 

 

$

23.8

 

 

$

 

Amended and Restated Term Loan Facility

 

 

 

 

 

13.9

 

 

 

22.3

 

Term Loan Amendment third party fees

 

 

 

 

 

2.1

 

 

 

 

Non-cash interest for amortization of debt discount
   and debt issuance costs

 

 

4.3

 

 

 

3.0

 

 

 

1.7

 

Revolving credit facility interest and commitment fees

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Total interest expense

 

$

47.8

 

 

$

43.3

 

 

$

24.5