v3.25.1
LONG-TERM DEBT
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
Long-term debt outstanding for the Company consisted of the following:
(In thousands)March 31, 2025December 31, 2024
Asset-based Revolving Credit Facility due 2027$— $— 
Term Loan Facility due 20265,095 5,095 
Incremental Term Loan Facility due 20261,500 1,500 
Term Loan Facility due 2029(1)
2,140,360 2,145,724 
6.375% Senior Notes due 2026
44,644 44,644 
5.25% Senior Notes due 2027
6,983 6,983 
8.375% Senior Unsecured Notes due 2027
72,388 72,388 
4.75% Senior Secured Notes due 2028
276,868 276,868 
9.125% First Lien Notes due 2029
717,588 717,588 
7.75% First Lien Notes due 2030
661,285 661,285 
7.00% First Lien Notes due 2031
178,443 178,443 
10.875% Second Lien Notes due 2030
675,165 675,165 
Other secured subsidiary debt(2)
4,696 5,008 
Long-term debt fees(8,544)(8,974)
Debt Premium278,106 289,752 
Total Debt5,054,577 5,071,469 
Less: Current portion22,511 22,501 
Total long-term debt$5,032,066 $5,048,968 
(1)Decrease is due to the quarterly amortization payment of $5.4 million equal to 0.25% of the original principal amount of the Term Loan Facility due 2029.
(2)Other subsidiary debt consists of finance lease obligations maturing at various dates from 2026 through 2045.
The Company’s weighted average interest rate was 9.3% and 9.4% as of March 31, 2025 and December 31, 2024, respectively. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $3.6 billion and $4.1 billion as of March 31, 2025 and December 31, 2024, respectively. Under the fair value hierarchy established by ASC 820-10-35, the market value of the Company’s debt is classified as either Level 1 or Level 2. As of March 31, 2025, the Company was in compliance with all covenants related to our debt agreements.
Surety Bonds and Letters of Credit
As of March 31, 2025, the Company and its subsidiaries had outstanding surety bonds and commercial standby letters of credit of $8.6 million and $23.7 million, respectively. These surety bonds and letters of credit relate to various operational matters including insurance, lease and performance bonds as well as other items.