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Borrowings (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | The Company's borrowings consisted of the following as of September 30, 2023 and December 31, 2022 (amounts in thousands):
| September 30, 2023 |  | December 31, 2022
Americas revolving credit (1) | $ | 382,351 |  |  | $ | 186,867 |
UK revolving credit | 500,257 |  |  | 453,528 |
Europe revolving credit | 473,873 |  |  | 419,856 |
Term loan | 442,500 |  |  | 450,000 |
Senior notes | 1,046,000 |  |  | 650,000 |
Convertible notes | — |  |  | 345,000 |
| 2,844,981 |  |  | 2,505,251 |
Less: Debt discount and issuance costs | (12,756) |  |  | (10,393) |
Total | $ | 2,832,225 |  |  | $ | 2,494,858 |
(1) Includes the North American revolving credit facility and an unsecured credit agreement with Banco de Occidente (the "Colombian Revolving Credit Facility"). As of September 30, 2023, no amounts were outstanding under the Colombian Revolving Credit Facility ($0.5 million was outstanding as of December 31, 2022).
Schedule of Maturities of Long-term Debt | The following principal payments are due on the Company's borrowings as of September 30, 2023 for the 12-month periods ending September 30, (amounts in thousands):
2024 | $ | 10,000 |
2025 | 308,000 |
2026 | 1,305,108 |
2027 | — |
2028 | 871,873 |
Thereafter | 350,000 |
Total | $ | 2,844,981 |
Schedule of Debt Interest Expense | Interest expense on the 2023 Notes was recognized using an effective interest rate of 4.00%, and for the three and nine months ended September 30, 2023 and 2022, was as follows (amounts in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Interest expense - stated coupon rate |  | $ | — |  |  | $ | 3,019 |  |  | $ | 5,032 |  |  | $ | 9,057 |  |
Interest expense - amortization of debt issuance costs |  | — |  |  | 429 |  |  | 748 |  |  | 1,284 |  |
Total interest expense - convertible notes |  | $ | — |  |  | $ | 3,448 |  |  | $ | 5,780 |  |  | $ | 10,341 |  |

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