| Schedule of Long-term Debt Instruments |
The following table is a summary of the Company’s outstanding debt:
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
|
2022 |
|
|
2021 |
|
Term debt |
|
|
|
|
|
|
7-year term loan facility, periodic interest and quarterly principal payments, Adjusted Term SOFR + 3.00% as of December 31, 2022, LIBOR + 3.00% as of December 31, 2021, matures September 1, 2027 |
|
$ |
1,571,818 |
|
|
$ |
1,578,972 |
|
Senior secured notes |
|
|
|
|
|
|
8-year senior secured notes, semi-annual interest payments, 4.38%, matures February 1, 2030 |
|
|
399,791 |
|
|
|
— |
|
Revolving debt |
|
|
|
|
|
|
5-year revolving loan facility, periodic interest payments, Adjusted Term SOFR + up to 3.00% as of December 31, 2022, LIBOR + up to 3.00% as of December 31, 2021, plus commitment fees up to 0.50%, matures July 26, 2026 |
|
|
392 |
|
|
|
387 |
|
Premium financing notes |
|
|
|
|
|
|
Commercial notes, periodic interest and principal payments, 1.88-2.49%, expire May 1, 2023 |
|
|
1,685 |
|
|
|
— |
|
Commercial notes, periodic interest and principal payments, 2.49%, expire June 1, 2023 |
|
|
767 |
|
|
|
— |
|
Commercial notes, periodic interest and principal payments, 2.74%, expire June 21, 2023 |
|
|
3,266 |
|
|
|
— |
|
Commercial notes, periodic interest and principal payments, 1.66%, expired June 1, 2022 |
|
|
— |
|
|
|
1,656 |
|
Commercial notes, periodic interest and principal payments, 1.66%, expired July 15, 2022 |
|
|
— |
|
|
|
745 |
|
Commercial notes, periodic interest and principal payments, 1.66%, expired July 21, 2022 |
|
|
— |
|
|
|
3,973 |
|
Finance lease obligation |
|
|
57 |
|
|
|
96 |
|
Units subject to mandatory redemption |
|
|
4,711 |
|
|
|
4,267 |
|
Total debt |
|
$ |
1,982,487 |
|
|
$ |
1,590,096 |
|
Less: Short-term debt and current portion of long-term debt |
|
|
(30,587 |
) |
|
|
(23,469 |
) |
Long-term debt |
|
$ |
1,951,900 |
|
|
$ |
1,566,627 |
|
|
| Schedule of Future Maturities of Long-term Debt |
Future maturities of long-term debt, which excludes premium financing notes, as of December 31, 2022 were as follows:
|
|
|
|
|
2023 |
|
$ |
24,869 |
|
2024 |
|
|
16,518 |
|
2025 |
|
|
16,504 |
|
2026 |
|
|
16,500 |
|
2027 |
|
|
1,546,875 |
|
Thereafter |
|
|
404,710 |
|
Total repayments |
|
$ |
2,025,976 |
|
Less: Unamortized discounts, premiums, and debt issuance costs |
|
|
(49,207 |
) |
Total |
|
$ |
1,976,769 |
|
|