v3.25.1
DEBT AND FINANCING COSTS - (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The following table summarizes the Company’s debt obligations as of March 31, 2025 and December 31, 2024:
March 31,December 31,
20252024
(In thousands)
A/R Facility(1)
$148,800 $140,200 
Total current debt obligations
$148,800 $140,200 
Unsecured term loan(2)
$1,000,000 $1,000,000 
5.875% senior unsecured notes due 2030 (“2030 Notes”)
1,000,000 1,000,000 
6.625% senior unsecured notes due 2028 (“2028 Notes”)
1,050,000 800,000 
$1.25 billion revolving line of credit(3)
545,000 590,000 
Total long-term debt3,595,000 3,390,000 
Debt issuance costs, net(4)
(27,380)(26,174)
Unamortized debt premiums and discounts, net837 170 
Total long-term debt, net$3,568,457 $3,363,996 
(1)The effective interest rate was 5.32% and 5.55% as of March 31, 2025 and December 31, 2024, respectively.
(2)The effective interest rate was 6.00% and 6.25% as of March 31, 2025 and December 31, 2024, respectively.
(3)The weighted average effective interest rate was 6.25% and 6.43% as of March 31, 2025 and December 31, 2024, respectively.
(4)Excludes unamortized debt issuance costs related to the revolving line of credit. Unamortized debt issuance costs associated with the revolving line of credit were $3.4 million and $3.8 million as of March 31, 2025 and December 31, 2024, respectively. The unamortized debt issuance costs related to the revolving credit facilities were included in the “Deferred charges and other assets” of the Condensed Consolidated Balance Sheets.
Schedule of Financing Costs, Net
The table below presents the components of the Company’s financing costs, net of capitalized interest:
Three Months Ended March 31,
20252024
(In thousands)
Capitalized interest$(3,304)$(944)
Debt issuance costs1,972 1,699 
Interest expense57,046 46,712 
Total financing costs, net of capitalized interest$55,714 $47,467