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LONG-TERM DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt outstanding as of December 31, 2022 and 2021 consisted of the following:
(In thousands) | December 31, 2022 |  | December 31, 2021
Term Loan Facility due 2026 | $ | 1,864,032 |  |  | $ | 1,864,032 |
Incremental Term Loan Facility due 2026 | 401,220 |  |  | 401,220 |
Asset-based Revolving Credit Facility due 2023 | — |  |  | — |
Asset-based Revolving Credit Facility due 2027(1)(2) | — |  |  | — |
6.375% Senior Secured Notes due 2026 | 800,000 |  |  | 800,000 |
5.25% Senior Secured Notes due 2027 | 750,000 |  |  | 750,000 |
4.75% Senior Secured Notes due 2028 | 500,000 |  |  | 500,000 |
Other secured subsidiary debt(3) | 4,462 |  |  | 5,350 |
Total consolidated secured debt | 4,319,714 |  |  | 4,320,602 |
8.375% Senior Unsecured Notes due 2027(4) | 1,120,366 |  |  | 1,450,000 |
Other unsecured subsidiary debt | 52 |  |  | 90 |
Original issue discount | (10,569) |  |  | (13,454) |
Long-term debt fees | (15,396) |  |  | (18,370) |
Total debt | 5,414,167 |  |  | 5,738,868 |
Less: Current portion | 664 |  |  | 673 |
Total long-term debt | $ | 5,413,503 |  |  | $ | 5,738,195 |
(1)On May 17, 2022, we entered into a $450.0 million senior secured asset-based revolving credit facility (the "New ABL Facility"), maturing in 2027, which refinanced and replaced in its entirety the Company's existing asset-based revolving credit facility (the "Existing ABL Facility"). Refer to the 'Asset-based Revolving Credit Facility due 2027' section below for more information. (2)As of December 31, 2022, the New ABL Facility had a facility size of $450.0 million, no outstanding borrowings and $25.0 million of outstanding letters of credit, resulting in $425.0 million of borrowing base availability. (3)Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2023 through 2045. (4)During the year ended December 31, 2022, we repurchased of $329.6 million aggregate principal amount of iHeartCommunications, Inc.'s 8.375% Senior Unsecured Notes due 2027 for $299.4 million in cash, excluding accrued interest. The repurchased notes were subsequently cancelled and retired, resulting in a gain on extinguishment of debt of $30.2 million.
Schedule of Future Maturities of Long-term Debt | Future maturities of long-term debt at December 31, 2022 are as follows:
(in thousands) |
2023 | $ | 664 |
2024 | 401 |
2025 | 287 |
2026 | 3,065,458 |
2027 | 1,870,467 |
Thereafter | 502,855 |
Total (1) | $ | 5,440,132 |
(1)Excludes original issue discount of $10.6 million and long-term debt fees of $15.4 million, which are amortized through interest expense over the life of the underlying debt obligations..

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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