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Interest Expense
 6 Months Ended
Jun. 30, 2025
Interest and Debt Expense [Abstract]  
Interest Expense Interest Expense
The following table presents the components of interest expense: 
Three Months Ended
 June 30,		Six Months Ended
 June 30,
2025202420252024
 (Dollars in thousands)
Interest incurred on debt$22,539 $17,110 $45,071 $34,205 
Accretion of original issue discount1,260 521 2,527 1,041 
Amortization of debt issuance costs688 749 1,369 1,497 
Debt modification costs931 — 6,292 — 
Amortization of interest rate swap deferred gains— (2,771)— (5,508)
Total interest expense$25,418 $15,609 $55,259 $31,235 
The financing transactions entered into in 2024 were accounted for as a modification of the existing debt under ASC 470-50, Debt—Modifications and Extinguishments.
The Company incurred $0.9 million and $6.3 million of fees and expenses related to post-closure costs attributable to the modification, which were expensed as incurred in the second quarter and first six months of 2025, respectively, and are included in Interest expense on the Condensed Consolidated Statements of Operations.
The Existing 9.875% Notes and the New 9.875% Notes carry fixed interest rates of 9.875%. The Existing 4.625% Notes and the New 4.625% Notes carry fixed interest rates of 4.625%. The Initial First Lien Term Loan had an effective interest rate of 10.32% as of June 30, 2025.
See Note 5, “Debt and Liquidity” for details of our debt.