v3.26.1
DEBT
 3 Months Ended
Mar. 31, 2026
DEBT  
DEBT

8.          DEBT

​

The Company’s debt is described in Note 8 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. As of March 31, 2026 and December 31, 2025, the Company’s debt consisted of the following:

​

​

​

​

​

​

​

​

​

​

March 31, 

​

December 31, 

(In millions)

  ​ ​ ​

2026

  ​ ​ ​

2025

Private Placement Term Loans:

​

​

​

​

​

​

3.37 %, payable through 2027

​

$

23.1

​

$

23.1

3.14 %, payable through 2031

​

​

78.7

​

​

85.8

Title XI Debt:

​

​

​

​

​

​

1.22 %, payable through 2043

​

​

142.4

​

​

142.4

1.35 %, payable through 2044

​

​

106.9

​

​

109.9

Revolving credit facility, maturity date of July 23, 2030

​

 

—

​

 

—

Total Debt

​

 

351.1

​

 

361.2

Less: Current portion

​

 

(39.7)

​

 

(39.7)

Total Long-term Debt

​

​

311.4

​

​

321.5

Less: Deferred loan fees

​

​

(9.2)

​

 

(9.4)

Total Long-term Debt, net of deferred loan fees

​

$

302.2

​

$

312.1

​

Revolving Credit Facility: As of March 31, 2026, the Company had $544.3 million of remaining borrowing availability under its $550 million revolving credit facility. The Company used $5.7 million of the revolving credit facility for letters of credit outstanding as of March 31, 2026. Borrowings under the revolving credit facility are classified as long-term debt in the Company’s Consolidated Balance Sheets, as principal payments are not required until the maturity date.

​

Debt Maturities: As of March 31, 2026, debt maturities are as follows:

​

​

​

​

​

​

​

As of

Year (in millions)

  ​ ​ ​

March 31, 2026

Remainder of 2026

​

$

29.6

2027

​

 

39.7

2028

​

 

28.2

2029

​

 

28.2

2030

​

 

28.2

Thereafter

​

 

197.2

Total Debt

​

$

351.1

​