v3.25.2
DEBT (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Maximum Leverage Ratios
Under the terms of the June 2025 Amendment, the Company’s Consolidated Total Leverage Ratio (defined, as of any date of determination, as the ratio of (a) Consolidated Funded Indebtedness as of such date (as defined in the Senior Credit Facility) less cash that is not subject to any restriction on the use or investment thereof to (b) Consolidated EBITDA (as defined by the Senior Credit Facility)) for the period of four consecutive fiscal quarters ending on such date was modified to the following:
Fiscal Quarter EndingMaximum Consolidated Total Leverage Ratio
June 30, 2025 through June 30, 2026
5.00 to 1.00
September 30, 2026
4.75 to 1.00
December 31, 2026
4.50 to 1.00
March 31, 2027 and the last day of each fiscal quarter thereafter
4.00 to 1.00
Schedule of Contractual Repayments of Long-Term Debt
Contractual repayments of the term loan component of the Senior Credit Facility are due as follows:
As of June 30, 2025Principal Repayment
Dollars in thousands
Remainder of 2025
$19,375 
2026
38,750 
2027
53,281 
2028
634,532 
$745,938 
Schedule of Carrying Amounts and Estimated Fair Values of Debt Instruments
The carrying amounts and the estimated fair values of debt as of June 30, 2025 and December 31, 2024 are as follows:
June 30, 2025December 31, 2024
Fair Value MeasurementCarrying ValueEstimated Fair ValueCarrying ValueEstimated Fair Value
Dollars in thousands
Senior credit facility - term loanLevel 2$745,938 $740,173 $760,469 $751,143 
Senior credit facility - revolving componentLevel 2415,000 411,515 365,000 360,144 
2025 NotesLevel 1575,000 569,365 575,000 555,594 
SecuritizationLevel 2108,800 106,657 108,100 105,831 
Subtotal$1,844,738 $1,827,710 $1,808,569 $1,772,712 
Debt issuance costs(4,418)(5,476)
Total debt$1,840,320 $1,827,710 $1,803,093 $1,772,712