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LONG-TERM DEBT | 3 Months Ended
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Mar. 31, 2024
LONG-TERM DEBT |
LONG-TERM DEBT | NOTE 8. LONG-TERM DEBT Long-term debt as of March 31, 2024 and December 31, 2023, was as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | March 31, 2024 |  | December 31, 2023
​ | ​ | ​ | ​ | ​ | ​
Revolving credit facility (a) | $ | - | ​ | $ | 10,375
Other debt (b) | ​ | 81 | ​ | ​ | 40
Term loan (c) | ​ | - | ​ | ​ | 109,375
Debt issuance costs | ​ | - | ​ | ​ | -
​ | ​ | 81 | ​ | ​ | 119,790
Less current portion | ​ | (44) | ​ | ​ | (119,790)
​ | $ | 37 | ​ | $ | -
​ On April 18, 2022 (the “Effective Date”), the Company and certain of its direct and indirect subsidiaries entered into an Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and the lenders party thereto (the “Restated Credit Agreement”). The Restated Credit Agreement provides for borrowings of up to $300,000 under a secured revolving credit facility (the “Revolving Loans”) (including up to $5,000 for letters of credit), and borrowings of up to $125,000 under a secured term loan facility (the “Term Loans”). The Restated Credit Agreement also permits the Company, subject to certain requirements, to arrange with lenders for an aggregate of up to $175,000 of additional revolving and/or term loan commitments (both of which are currently uncommitted), for potential aggregate revolving and term loan commitments under the Restated Credit Agreement of up to $600,000. The Restated Credit Agreement matures on April 18, 2027 (the “Maturity Date”), at which time the revolving commitments thereunder will terminate and all outstanding Revolving Loans and Term Loans, together with all accrued and unpaid interest thereon, must be repaid. All obligations under the Restated Credit Agreement are secured by our subsidiary equity interests, as well as accounts receivable, inventory, intellectual property and certain other assets owned by the Company. The Restated Credit Agreement contains restrictions on the Company’s ability to pay dividends or make distributions or other restricted payments if certain conditions in the Restated Credit Agreement are not fulfilled. The Restated Credit Agreement also includes other customary affirmative and negative covenants, including financial covenants relating to the Company’s consolidated total leverage ratio and fixed charge coverage ratio. In conjunction with the Precision Sport Purchase Agreement dated December 29, 2023, all balances owing the lenders and the Administrative Agent were required to be paid off contemporaneously with the closing of the disposition of the Precision Sport segment which occurred on February 29, 2024. Accordingly, all debt obligations were classified as current as of December 31, 2023 and were settled on February 29, 2024.
| (a) | On February 29, 2024, upon the closing of the disposition of the Precision Sport segment, the Company terminated and paid off amounts outstanding under the revolving credit facility in full. The Company pays interest monthly on any borrowings on the Restated Credit Agreement. As of December 31, 2023, the interest rates ranged between approximately 7.7% and 9.8%.
| (b) | Foreign subsidiaries of the Company term debt with financial institutions, which mature between August 8, 2024 and February 27, 2027. The foreign subsidiaries paid interest monthly on any borrowings on the credit facility as well as monthly payments on the term debt. As of March 31, 2024, the interest rates ranged between approximately 3.2% and 7.0% and as of December 31, 2023, the interest rate was approximately 3.2%. The term debt is secured by certain assets of the foreign subsidiaries.
| (c) | On February 29, 2024, upon the closing of the disposition of the Precision Sport segment, the Company terminated and paid off amounts outstanding under the term loan in full. The Company pays interest monthly on any borrowings on the Restated Credit Agreement. As of December 31, 2023, the rate was approximately 7.7%.

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