| Schedule of Long-term Debt Instruments |
As of June 30, 2025, and December 31, 2024, long-term debt consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Key Terms | | June 30, 2025 | | December 31, 2024 | | (in thousands) | Character | | Priority | | Maturity | | Repayment | | Coupon | | | | Term Loan B | Term Loan | | Senior Secured | | 9/1/2028 | | Par | | Variable | | $ | — | | | $ | 1,281,938 | | 5.750% Notes | Notes | | Senior Unsecured | | 11/1/2028 | | Par | | 5.75% | | 5,310 | | | 979,827 | | 5.50% Notes | Notes | | Senior Unsecured | | 9/1/2028 | | Par | | 5.50% | | 5,814 | | | 1,050,000 | | | Senior Convertible PIK Notes | Convertible Notes | | Senior Unsecured | | 10/15/2027 | | Par | | Cash 6.00%, or PIK 7.00% | | 420 | | | 1,253,890 | | | New First-Out First Lien Term Loans | Term Loan | | Senior Secured | | 12/31/2030 | | Par | | Variable(1) | | 324,236 | | | — | | | New Second-Out First Lien Term Loans | Term Loan | | Senior Secured | | 12/31/2030 | | Par | | Variable(2) | | 1,141,076 | | | — | | | New Second-Out First Lien A Notes | Notes | | Senior Secured | | 12/31/2030 | | Par | | Cash 6.50% and PIK 5.00% | | 612,681 | | | — | | | New Second-Out First Lien B Notes | Notes | | Senior Secured | | 12/31/2030 | | Par | | 5.750% | | 763,075 | | | — | | | New Third-Out First Lien A Notes | Notes | | Senior Secured | | 3/31/2031 | | 107% | | Cash 6.00% and PIK 0.75% | | 758,419 | | | — | | | New Third-Out First Lien B Notes | Notes | | Senior Secured | | 3/31/2031 | | 107% | | Cash 6.00% and PIK 0.75% | | 976,979 | | | — | | | Finance lease obligations, non-current | Other | | Senior Secured | | 2022-2024 | | Par | | 3.38% - 20.31% | | 64 | | | 82 | | | Long-term debt | | | | | | | | | | | 4,588,074 | | | 4,565,737 | | | Less: current portion of long-term debt | | | | | | | | | | | (14,690) | | | (13,250) | | | Less: debt discounts, net | | | | | | | | | | | (20,243) | | | (21,485) | | | Less: debt issuance costs, net | | | | | | | | | | | (20,063) | | | (21,277) | | | Long-term debt, net | | | | | | | | | | | $ | 4,533,078 | | | $ | 4,509,725 | |
(1)Interest on the New First-Out First Lien Term Loans (as defined below) is calculated, at MPH Acquisition Holdings LLC's ("MPH") option, as (a) Term Secured Overnight Financing Rate ("Term SOFR") (or 0.50%, if higher) plus 3.75% or (b)(x) the highest rate of (1) the prime rate, (2) the federal funds effective rate plus 0.50%, (3) Term SOFR for an interest period of one month plus 1.00% and (4) 1.50% plus (y) 2.75%. (2)Interest on the New Second-Out First Lien Term Loans (as defined below) is calculated, at MPH's option, as (a) Term SOFR (or 0.50%, if higher) plus the applicable SOFR adjustment plus 4.60% or (b)(x) the highest rate of (1) the prime rate, (2) the federal funds effective rate plus 0.50%, (3) Term SOFR for an interest period of one month plus the applicable SOFR adjustment plus 1.00% and (4) 1.50% plus (y) 3.60%.
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| Schedule of Maturities of Long-term Debt |
As of June 30, 2025, the aggregate future principal payments for long-term debt, including non-current finance lease liabilities, for each of the next five years and thereafter are as follows: | | | | | | | ($ in thousands) | | | 2025 | $ | 14,653 | | | 2026 | 14,685 | | | 2027 | 15,105 | | | 2028 | 25,777 | | | 2029 | 14,653 | | | Thereafter | 4,503,201 | | | Total | $ | 4,588,074 | | | |
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