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Debt and Liquidity | 6 Months Ended
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Jun. 30, 2026
Debt Disclosure [Abstract] |
Debt and Liquidity | Debt and Liquidity The following table presents our long-term debt:
(Dollars in thousands) | June 30, 2026 |  | December 31, 2025
Initial First Lien Term Loans due 2029 | $ | 175,000 |  |  | $ | 175,000 |
Delayed Draw First Lien Term Loans due 2029 | 100,000 |  |  | — |
Existing 4.625% Senior Notes due 2028 | 1,755 |  |  | 1,755 |
New 4.625% Second Lien Notes due 2029 | 498,245 |  |  | 498,245 |
Existing 9.875% Senior Notes due 2028 | 3,833 |  |  | 3,833 |
New 9.875% Second Lien Notes due 2029 | 446,167 |  |  | 446,167 |
Unamortized debt discount and issuance costs | (26,398) |  |  | (30,294) |
Total long-term debt | $ | 1,198,602 |  |  | $ | 1,094,706 |
The fair value of our debt was approximately $912.4 million and $946.6 million as of June 30, 2026 and December 31, 2025, respectively. The fair values were determined using Level 1 quoted market prices for the same or similar debt instruments. Initial First Lien Term Loan Facility; Delayed Draw First Lien Term Loan Facility In the second quarter of 2026, the Company drew the remaining $100.0 million available under its Delayed Draw First Lien Term Loan Facility. Following this draw, the delayed draw commitment was fully utilized and no additional amounts remain available for borrowing under the delayed draw portion of the Delayed Draw First Lien Term Loan facility. The proceeds from the borrowing were used for general corporate purposes, including working capital requirements. The borrowing bears interest and is subject to the same terms, covenants, maturity date, and repayment provisions as the Initial First Lien Term Loans, as set forth in the Initial First Lien Term Loan Facility. 2018 Revolving Credit Facility As of June 30, 2026 and December 31, 2025, the availability under our 2018 Revolving Credit Facility was $107.6 million and $101.6 million, respectively. As any borrowings under the 2018 Revolving Credit Facility remain subject to compliance with the financial covenant thereunder, our operating performance as of June 30, 2026 and December 31, 2025 resulted in our inability to access the full amount of commitments under the facility. As of June 30, 2026 and December 31, 2025, there were no borrowings outstanding on the 2018 Revolving Credit Facility, and there was $7.9 million and $13.8 million, respectively, of letters of credit drawn against the 2018 Revolving Credit Facility. We were in compliance with all of our debt covenants as of June 30, 2026 and December 31, 2025.

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