| Schedule of Long-Term Debt Instruments |
The following table is a summary of the Company’s outstanding debt:
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
|
2023 |
|
2022 |
|
Term debt |
|
|
|
|
|
7-year term loan facility, periodic interest and quarterly principal payments, Adjusted Term SOFR + 3.00%, matures September 1, 2027 |
|
$ |
1,564,718 |
|
$ |
1,571,818 |
|
Senior secured notes |
|
|
|
|
|
8-year senior secured notes, semi-annual interest payments, 4.38%, matures February 1, 2030 |
|
|
400,704 |
|
|
399,791 |
|
Revolving debt |
|
|
|
|
|
5-year revolving loan facility, periodic interest payments, Adjusted Term SOFR + up to 3.00%, plus commitment fees of 0.25%-0.50%, matures July 26, 2026 |
|
|
377 |
|
|
392 |
|
Premium financing notes |
|
|
|
|
|
Commercial notes, periodic interest and principal payments, 5.75%, expire May 1, 2024 |
|
|
2,251 |
|
|
— |
|
Commercial notes, periodic interest and principal payments, 5.75%, expire June 1, 2024 |
|
|
622 |
|
|
— |
|
Commercial notes, periodic interest and principal payments, 6.00%, expire June 19, 2024 |
|
|
2,485 |
|
|
— |
|
Commercial notes, periodic interest and principal payments, 5.75%, expire June 21, 2024 |
|
|
2,855 |
|
|
— |
|
Commercial notes, periodic interest and principal payments, 1.88%-2.49%, expired May 1, 2023 |
|
|
— |
|
|
1,685 |
|
Commercial notes, periodic interest and principal payments, 2.49%, expired June 1, 2023 |
|
|
— |
|
|
767 |
|
Commercial notes, periodic interest and principal payments, 2.74%, expired June 21, 2023 |
|
|
— |
|
|
3,266 |
|
Finance lease obligation |
|
|
— |
|
|
57 |
|
Units subject to mandatory redemption |
|
|
5,200 |
|
|
4,711 |
|
Total debt |
|
$ |
1,979,212 |
|
$ |
1,982,487 |
|
Less: Short-term debt and current portion of long-term debt |
|
|
(35,375 |
) |
|
(30,587 |
) |
Long-term debt |
|
$ |
1,943,837 |
|
$ |
1,951,900 |
|
|
| Schedule of Future Maturities of Long-term Debt |
The future maturities of long-term debt, which excludes premium financing notes, as of December 31, 2023 were as follows:
|
|
|
|
|
2024 |
|
$ |
27,162 |
|
2025 |
|
|
16,500 |
|
2026 |
|
|
16,500 |
|
2027 |
|
|
1,546,875 |
|
2028 |
|
|
— |
|
Thereafter |
|
|
403,316 |
|
Total repayments |
|
$ |
2,010,353 |
|
Less: Unamortized discounts and debt issuance costs |
|
|
(39,354 |
) |
Total |
|
$ |
1,970,999 |
|
|