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Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Summary of Actual Financial Ratios as Part of Affirmative Covenants Credit Facility The following table reflects required and actual financial ratios as of December 31, 2022 included as part of the affirmative covenants in the 2022 Credit Facility:
Description of Required Covenant RatioCovenant Ratio RequirementActual Ratio
Fixed Charge Coverage RatioGreater than or equal to 1.50: 1.003.09:1.00
Total Secured Debt to EBITDA RatioLess than or equal to 3.50: 1.001.12:1.00
Total Debt to EBITDA RatioLess than or equal to 5.75: 1.003.97:1.00
Summary of Components of Interest Expense
The following details the components of interest expense in each of the years ended December 31, 2022, 2021 and 2020:
Year ended December 31,
(in thousands)202220212020
Interest on credit facilities$13,842 $2,669 $2,164 
Interest on Senior Notes67,500 54,441 42,400 
Unused fee on Revolving Credit Facility1,913 1,598 1,386 
Amortization of debt premium— (83)(222)
Other interest expense300 227 294 
Interest income(49)(13)(254)
Interest expense, net$83,506 $58,839 $45,768 
Schedule of Long-term Debt Instruments
The following table provides the Company’s outstanding long-term debt and effective interest rates at December 31, 2022 and December 31, 2021 (in thousands):
December 31, 2022December 31, 2021
Effective Interest RateAmountEffective Interest RateAmount
2029 Senior Notes5.25%$1,000,000 4.89%$1,000,000 
2032 Senior Notes5.00%300,000 5.29%300,000 
2022 Term Loan5.20%395,000 — 
2022 Revolving Credit Facility5.98%155,000 — 
Unamortized premiums and debt issuance costs (15,532)(15,174)
Total debt$1,834,468 $1,284,826 
Less: Current portion, term loan facilities(10,000)— 
Long-term debt$1,824,468 $1,284,826 
The following table summarizes debt issuance costs at December 31, 2022 and December 31, 2021, and the balance sheet classification in each of the periods presents (in thousands):
December 31,
20222021
Deferred debt issuance costs$32,526 $27,784 
Accumulated amortization(9,760)(6,021)
Deferred debt issuance costs, net$22,766 $21,763 
Balance sheet classification:
Other noncurrent assets$7,234 $6,589 
Long-term debt15,532 15,174 
$22,766 $21,763