DEBT (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Components of Long-term Debt

Components of long-term debt were as follows:


(in thousands)	June 30, 2025		December 31, 2024
2035 Senior Notes	$	500,000	$	—
Revolving Credit Facility	—		397,000
Total long-term debt	$	500,000	$	397,000

Less: unamortized debt discount	(7,515)		—
Less: unamortized debt issuance costs	(7,207)		(1,690)

Total long-term debt, net	$	485,278	$	395,310

Schedule of Debt

Information with respect to our outstanding commercial paper borrowings is as follows:


(in thousands)	June 30, 2025			December 31, 2024
Outstanding borrowings (1)	$	59,989		$	—
Weighted average annual interest rate	4.57		%	—
Weighted average remaining term	2.5 days			—

(1) Outstanding commercial paper borrowings are net of unamortized discount and are presented under the short-term debt caption of our condensed consolidated statements of financial position.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details