XML 57 R47.htm IDEA: XBRL DOCUMENT v3.24.3
DEBT - Narrative (Details)
1 Months Ended 9 Months Ended
Jul. 30, 2026
Jul. 26, 2024
USD ($)
Jul. 17, 2024
USD ($)
Feb. 28, 2017
Sep. 30, 2024
USD ($)
Jun. 07, 2024
USD ($)
Jun. 05, 2024
USD ($)
May 07, 2024
USD ($)
Apr. 24, 2024
USD ($)
Mar. 27, 2024
USD ($)
Nov. 30, 2023
USD ($)
Nov. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Mar. 08, 2021
USD ($)
ABL Facility                            
Debt Instrument [Line Items]                            
Borrowing capacity   $ 500,000,000     $ 500,000,000.0                  
Borrowing base capacity         $ 538,800,000                  
Applicable margin (as a percent)         2.75%                  
Interest rate during period (as a percent)         7.70%                  
Unused portion under the facility         $ 349,200,000                  
ABL Facility | Revolving Credit Facility                            
Debt Instrument [Line Items]                            
Amended and Restated ABL Facility: Summit Holdings’ asset based credit facility due July 2029         $ 800,000                  
ABL Facility | Summit Holdings And Finance Corporation                            
Debt Instrument [Line Items]                            
Proceeds from sale of other assets   $ 50,000,000                        
Aggregate commitments (as percent)   10.00%                        
Interest coverage ratio         2.42                  
First lien net leverage ratio         0.84                  
ABL Facility | Summit Holdings And Finance Corporation | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                            
Debt Instrument [Line Items]                            
Applicable margin (as a percent)   2.50%                        
ABL Facility | Summit Holdings And Finance Corporation | Minimum | Base Rate                            
Debt Instrument [Line Items]                            
Applicable margin (as a percent)   1.50%                        
ABL Facility | Summit Holdings And Finance Corporation | Maximum                            
Debt Instrument [Line Items]                            
Net leverage ratio   2.50                        
Interest coverage ratio   2.00                        
ABL Facility | Summit Holdings And Finance Corporation | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                            
Debt Instrument [Line Items]                            
Applicable margin (as a percent)   3.25%                        
ABL Facility | Summit Holdings And Finance Corporation | Maximum | Base Rate                            
Debt Instrument [Line Items]                            
Applicable margin (as a percent)   2.25%                        
Credit Agreement                            
Debt Instrument [Line Items]                            
Borrowing capacity                           $ 175,000,000
Applicable margin (as a percent)         2.475%                  
Interest rate during period (as a percent)         7.79%                  
Unused portion of the permian transmission credit facility         $ 4,500,000                  
Commitment fee (as a percent)         0.70%                  
Credit Agreement | Summit Permian Transmission, LLC                            
Debt Instrument [Line Items]                            
Debt hedged by interest rate derivatives (as percent)         90.00%                  
Credit Agreement | Summit Permian Transmission, LLC | Interest Rate Contract                            
Debt Instrument [Line Items]                            
Applicable margin (as a percent)         1.23%                  
Credit Agreement | Standby Letters of Credit                            
Debt Instrument [Line Items]                            
Unused portion of the permian transmission credit facility         $ 10,500,000                  
Credit Agreement | Term Loan Credit Facility                            
Debt Instrument [Line Items]                            
Borrowing capacity                           160,000,000
Credit Agreement | Working Capital Credit Facility                            
Debt Instrument [Line Items]                            
Borrowing capacity                           $ 15,000,000
Permian Transmission Term Loan: Summit Permian Transmission’s variable rate senior secured term loan due January 2028                            
Debt Instrument [Line Items]                            
Applicable margin (as a percent)         2.475%                  
Interest rate during period (as a percent)         7.79%                  
Senior Secured Second Lien Notes, 2029 | Summit Holdings And Finance Corporation                            
Debt Instrument [Line Items]                            
Debt offering   $ 575,000,000                        
Stated interest rate (as a percent)   8.625%                        
Senior Secured Second Lien Notes, 2029 | Summit Holdings And Finance Corporation | Subsequent Event                            
Debt Instrument [Line Items]                            
Redemption percentage (as a percent) 40.00%                          
Redemption price (as percent) 108.625%                          
Senior Secured Second Lien Notes, 2029 | Summit Holdings And Finance Corporation | Subsequent Event | Forecast                            
Debt Instrument [Line Items]                            
Redemption percentage (as a percent) 100.00%                          
2026 Notes                            
Debt Instrument [Line Items]                            
Debt offering                       $ 85,000,000 $ 700,000,000  
Stated interest rate (as a percent)                         8.50%  
Debt issued as a percent of face value                       99.26% 98.50%  
Secured Notes Indenture, 2026                            
Debt Instrument [Line Items]                            
Debt instrument, cash tender offer               $ 215,000,000   $ 19,300,000        
Tendered and validly accepted and fully discharged amount                 $ 13,600,000          
Asset sale offer expired             $ 6,900,000              
Secured Notes Indenture, 2026 | Summit Holdings And Finance Corporation                            
Debt Instrument [Line Items]                            
Redemption price (as percent)   102.125%                        
Repayments of debt   $ 649,800,000                        
Debt instrument, notice of redemption on tender offer   114,700,000     $ 114,700,000                  
Debt instrument redemption irrevocable deposit   121,200,000                        
2026 Unsecured Notes                            
Debt Instrument [Line Items]                            
Debt offering                     $ 209,500,000      
2026 Unsecured Notes | Summit Holdings And Finance Corporation                            
Debt Instrument [Line Items]                            
Debt instrument redemption notice amount           $ 209,500,000                
2025 Senior Notes                            
Debt Instrument [Line Items]                            
Debt offering                     180,000,000      
Debt instrument, repurchase amount                     29,500,000      
Debt instrument, repurchased face amount                     $ 29,700,000      
2025 Senior Notes | Summit Holdings And Finance Corporation | Beginning October 15, 2025                            
Debt Instrument [Line Items]                            
Redemption price (as percent)       100.00%                    
Secured Notes Indenture, 2025 | Summit Holdings And Finance Corporation                            
Debt Instrument [Line Items]                            
Redemption price (as percent)     100.00%                      
Debt instrument, cash tender offer     $ 49,800,000   $ 0                  
Debt instrument redemption irrevocable deposit   $ 50,600,000