XML 38 R25.htm IDEA: XBRL DOCUMENT
v3.25.2

Long-term Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | As of June 30, 2025 and December 31, 2024, long-term debt consisted of the following (in thousands):
| June 30, 2025 |  | December 31, 2024
Revolving credit facility(1) | $ | — |  |  | $ | — |
2026 Notes(2) | 108,222 |  |  | 122,505 |
Other debt and finance lease obligations | 2,507 |  |  | 2,782 |
Total debt | 110,729 |  |  | 125,287 |
Less: Current portion | (108,813) |  |  | (633) |
Total long-term debt | $ | 1,916 |  |  | $ | 124,654 |
____________________ (1)Unamortized deferred financing costs of $1.4 million and $1.6 million as of June 30, 2025 and December 31, 2024, respectively, are presented in other noncurrent assets. (2)The outstanding principal amount of the 2026 Notes was $108.8 million as of June 30, 2025 and $123.5 million as of December 31, 2024. The following table provides a summary of the Company's purchases of outstanding 2026 Notes during the three and six months ended June 30, 2025 and 2024, with non-cash gains reported within other income, net (in thousands):
| Principal Amount |  | Carrying Value of Liability |  | Cash Paid |  | Non-cash Pre-tax Gains Recognized
Three and Six Months Ended June 30, 2025 | $ | 14,750 |  |  | $ | 14,665 |  |  | $ | 14,284 |  |  | $ | 381 |
Three and Six Months Ended June 30, 2024 | 11,500 |  |  | 11,361 |  |  | 10,846 |  |  | 515 |
Schedule of Line of Credit Facilities | The following provides a summary of the more significant modifications to the ABL Agreement:
|  | Through July 27, 2025 |  | Effective July 28, 2025
Lender commitments |  | $125.0 million |  | $100.0 million
Maturity |  | Earlier of (i) February 16, 2028 and (ii) 91 days prior to the stated maturity of any outstanding indebtedness with an outstanding principal balance equal to or greater than $17.5 million |  | Earlier of (i) February 16, 2028 and (ii) 91 days prior to the stated maturity of any outstanding indebtedness with an outstanding principal balance equal or greater than $17.5 million, unless as of such date such indebtedness has been refinanced, defeased or adequately reserved for (either against the borrowing base or the maximum revolver amount) or escrowed or cash collateralized in a deposit account.
Interest rate on outstanding borrowings: |  |  |  |
SOFR based borrowings |  | SOFR plus a margin of 2.75% to 3.25% |  | SOFR plus a margin of 2.25% to 2.75%
Base-rate borrowings |  | Base rate plus a margin of 1.75% to 2.25% |  | Base rate plus a margin of 1.25% to 1.75%
Letter of credit sublimit |  | $50.0 million |  | $25.0 million
Maintenance covenant: |  |  |  |
Fixed charge coverage ratio of not less than 1.0 to 1.0 |  | (i) in the event that availability under the ABL Agreement is less than the greater of (a) 15% of the line cap and (b) approximately $14.1 million |  | (i) in the event that availability under the ABL Agreement is less than the greater of (a) 15% of the line cap and (b) approximately $11.3 million

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration