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LONG-TERM DEBT (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt outstanding consisted of the following:
(In thousands) | December 31, 2024 |  | December 31, 2023
Asset-based Revolving Credit Facility due 2027(1) | $ | — |  |  | $ | — |
Term Loan Facility due 2026(2) | 5,095 |  |  | 1,864,032 |
Incremental Term Loan Facility due 2026(2) | 1,500 |  |  | 401,220 |
Term Loan Facility due 2029(2) | 2,145,724 |  |  | — |
6.375% Senior Notes due 2026(2)(3) | 44,644 |  |  | 800,000 |
5.25% Senior Notes due 2027(2)(3) | 6,983 |  |  | 750,000 |
8.375% Senior Unsecured Notes due 2027(2) | 72,388 |  |  | 916,357 |
4.75% Senior Secured Notes due 2028(2) | 276,868 |  |  | 500,000 |
9.125% First Lien Notes due 2029(2) | 717,588 |  |  | — |
7.75% First Lien Notes due 2030(2) | 661,285 |  |  | — |
7.00% First Lien Notes due 2031(2) | 178,443 |  |  | — |
10.875% Second Lien Notes due 2030(2) | 675,165 |  |  | — |
Other subsidiary debt(4) | 5,008 |  |  | 3,367 |
Original issue discount | (4,247) |  |  | (7,558) |
Long-term debt fees | (8,974) |  |  | (12,268) |
Debt Premium(5) | 293,999 |  |  | — |
Total debt | 5,071,469 |  |  | 5,215,150 |
Less: Current portion | 22,501 |  |  | 340 |
Total long-term debt | $ | 5,048,968 |  |  | $ | 5,214,810 |
(1)On November 6, 2024, the Company amended its ABL Credit Agreement that provides the $450 million senior secured asset-based revolving credit facility (the "ABL Facility"), providing for, among other things, the applicable rate with respect to the loans provided thereunder to be increased by 0.50% and certain of the covenants and default provisions to become amended. Refer to the 'ABL Amendment' section below for more information. As of December 31, 2024, the ABL Facility had a facility size of $450.0 million, no outstanding borrowings and $23.7 million of outstanding letters of credit, resulting in $426.3 million of borrowing base availability. (2)On December 20, 2024, the Company completed its previously announced exchange offers and consent solicitations. Refer to the 'Debt Exchange Transaction,' 'New Indentures; New Term Loan Credit Agreement,' and 'Supplemental Indentures' sections below for more information. (3)Subsequent to the Debt Exchange Transaction, the 6.375% Senior Notes and the 5.25% Senior Notes are no longer secured. (4)Other subsidiary debt consists of finance lease obligations maturing at various dates from 2025 through 2045. (5)The difference between the carrying value of the exchanged 5.250% Senior Secured Notes, 4.750% Senior Secured Notes, and 8.375% Notes and the principal amount of the 7.75% First Lien Notes due 2030, 7.00% First Lien Notes due 2031 and the 10.875% Second Lien Notes due 2030 was recorded as debt premium and will be reduced as contractual interest payments are made.
Schedule of Future Maturities of Long-term Debt | Future maturities of long-term debt at December 31, 2024 are as follows:
(in thousands) |
2025 | $ | 22,501 |
2026 | 73,369 |
2027 | 101,397 |
2028 | 298,592 |
2029 | 2,777,540 |
Thereafter | 1,517,292 |
Total (1) | $ | 4,790,691 |
(1)Excludes original issue discount of $4.2 million, long-term debt fees of $9.0 million, and debt premium of $294.0 million which are amortized through interest expense over the life of the underlying debt obligations.

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