v3.25.4
Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Summary of Long-Term Debt

Debt is comprised of the following indebtedness to various lenders:

(in millions)

 

December 31,
2025

 

 

December 31,
2024

 

Second Amended and Restated Term Loan Facility due 2032, net(a)

 

$

503.8

 

 

$

 

Previous Extended Term Loan Facility, net(b)

 

 

 

 

 

402.7

 

Less: Current maturities

 

 

5.2

 

 

 

4.2

 

Long-term debt, net of current maturities, debt
   discount and deferred financing fees

 

$

498.6

 

 

$

398.5

 

 

(a)
The Second Amended and Restated Term Loan Facility (as defined below) with interest at SOFR plus 3.25% as of December 31, 2025 equal to 6.97% at December 31, 2025), scheduled to mature on January 30, 2032, was recorded net of unamortized discount of $6.7 million and net of unamortized deferred financing fees of $2.0 million as of December 31, 2025. The fair market value of the Company’s debt under the Second Amended and Restated Term Loan Facility was $516.6 million as of December 31, 2025.
(b)
The Previous Extended Term Loan Facility (as defined below) with interest at SOFR plus 5.10% as of December 31, 2024 (equal to 9.46% as of December 31, 2024) was recorded net of unamortized discount of $5.6 million and net of unamortized deferred financing fees of $0.9 million as of December 31, 2024.

Second Amended and Restated Senior Secured Credit Facilities

Summary of Interest Expense

Interest expense reported in the consolidated statements of (loss) income consists of the following:

 

 

Year Ended December 31,

 

(in millions)

 

2025

 

 

2024

 

 

2023

 

Second Amended and Restated Term Loan Facility

 

$

40.6

 

 

$

 

 

$

 

Previous Extended Term Loan Facility

 

 

 

 

 

43.0

 

 

 

23.8

 

Previous Amended and Restated Term Loan Facility

 

 

 

 

 

 

 

 

13.9

 

Second Amended and Restated Term Loan Facility third-party fees

 

 

6.4

 

 

 

 

 

 

 

Previous Extended Term Loan Facility Amendment third-party fees

 

 

 

 

 

 

 

 

2.1

 

Non-cash interest for amortization of debt discount
   and debt issuance costs

 

 

1.4

 

 

 

4.3

 

 

 

3.0

 

Revolving credit facility interest and commitment fees

 

 

0.4

 

 

 

0.5

 

 

 

0.5

 

Total interest expense

 

$

48.8

 

 

$

47.8

 

 

$

43.3