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Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Outstanding long-term debt is summarized below (in thousands):
CharacterPriorityMaturityRepaymentCouponJune 30, 2026December 31, 2025
5.750% Notes
NotesSenior Unsecured11/1/2028Par5.75%$5,310 $5,310 
5.50% Notes
NotesSenior Secured9/1/2028Par5.50%5,814 5,814 
Senior Convertible PIK NotesConvertible NotesSenior Unsecured10/15/2027Par
Cash 6.00%, or PIK 7.00%
420 420 
First-Out First Lien Term LoansTerm LoanSenior Secured12/31/2030Par
Variable(1)
320,985 322,611 
Second-Out First Lien Term LoansTerm LoanSenior Secured12/31/2030Par
Variable(2)
1,129,637 1,135,357 
Second-Out First Lien A NotesNotesSenior Secured12/31/2030Par
Cash 6.50% and PIK 5.00%
643,698 627,998 
Second-Out First Lien B NotesNotesSenior Secured12/31/2030Par5.750%763,075 763,075 
Third-Out First Lien A NotesNotesSenior Secured3/31/2031107%
Cash 6.00% and PIK 0.75%
772,632 765,520 
Third-Out First Lien B NotesNotesSenior Secured3/31/2031107%
Cash 6.00% and PIK 0.75%
995,288 986,126 
Finance lease obligations, non-currentOtherSenior Secured2028-2029Par
6.01%-6.78%
144 183 
Long-term debt4,637,003 4,612,414 
Less: current portion of long-term debt(14,690)(14,690)
Less: debt discounts, net(17,142)(18,717)
Less: debt issuance costs, net(17,011)(18,567)
Total Long-term debt, net$4,588,160 $4,560,440 
(1)Interest on the First-Out First Lien Term Loans (as defined below) is calculated, at MPH Acquisition Holdings LLC's ("MPH") option, as (a) Term Secured Overnight Financing Rate ("Term SOFR") (or 0.50%, if higher) plus 3.75% or (b)(x) the highest rate of (1) the prime rate, (2) the federal funds effective rate plus 0.50%, (3) Term SOFR for an interest period of one month plus 1.00% and (4) 1.50% plus (y) 2.75%.
(2)Interest on the Second-Out First Lien Term Loans (as defined below) is calculated, at MPH's option, as (a) Term SOFR (or 0.50%, if higher) plus the applicable SOFR adjustment plus 4.60% or (b)(x) the highest rate of (1) the prime rate, (2) the federal funds effective rate plus 0.50%, (3) Term SOFR for an interest period of one month plus the applicable SOFR adjustment plus 1.00% and (4) 1.50% plus (y) 3.60%.
Schedule of Long-term Debt Maturities
As of June 30, 2026, the aggregate future principal payments for long-term debt, excluding non-current finance lease liabilities (based on the outstanding long-term debt as of June 30, 2026 and assuming the payments are made at their respective anticipated payment dates) were as follows (in thousands):
For the years ending December 31,
2026$7,346 
202715,110 
202825,814 
202914,690 
20302,805,981 
Thereafter1,767,918 
Total$4,636,859