v3.25.2
Floor Plan Financing
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Floor Plan Financing
Note 7: Long-Term Debt
Debt obligations and associated interest rates consisted of the following:
(in $000s, except interest rate data) June 30, 2025December 31, 2024June 30, 2025December 31, 2024
ABL Facility$670,475 $582,900 6.4%7.1%
2029 Secured Notes920,000 920,000 5.5%5.5%
2023 Credit Facility17,474 17,648 5.8%5.8%
Other notes payable22,753 27,102 
3.1%-7.0%
3.1%-7.0%
Total debt outstanding1,630,702 1,547,650 
Deferred financing fees(17,705)(19,926)
Total debt, net of deferred financing fees1,612,997 1,527,724 
Less: current maturities(23,114)(7,842)
Long-term debt$1,589,883 $1,519,882 
As of June 30, 2025, borrowing availability under the ABL Facility was $275.7 million, and outstanding standby letters of credit were $3.9 million.
ABL Facility
The Company and certain of its direct and indirect subsidiaries are party to an asset-based revolving credit agreement (the “ABL Credit Agreement”), consisting of a $950.0 million first lien senior secured asset-based revolving credit facility (the “ABL Facility”), which matures on August 9, 2029, or, if earlier, the date that is 91 days prior to the maturity date of the Company’s existing senior notes or any debt that refinances such existing notes. Borrowings under the ABL Facility bear interest at a floating rate, which, at the Company’s election, could be (a) in the case of U.S. dollar denominated loans, either (i) SOFR plus an applicable margin or (ii) the base rate plus an applicable margin; or (b) in the case of Canadian dollar denominated loans, the term Canadian Overnight Repo Rate Average (the “CORRA” rate) plus an applicable margin. The applicable margin varies based on Average Availability (as defined in the ABL Credit Agreement) from (a) with respect to base rate loans, 0.50% to 1.00% and (b) with respect to SOFR loans and CORRA rate loans, 1.50% to 2.00%.