v3.26.1
Long-term Debt, Net (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Summary of the Company's Long-term Debt

The following table provides a summary of the Company’s debt, net at:

 

($ in thousands)

 

March 31,
2026

 

 

December 31,
2025

 

Amended Term Loan

 

$

685,360

 

 

$

687,082

 

Senior Notes

 

 

350,000

 

 

 

350,000

 

Amended Revolver

 

 

26,000

 

 

 

—

 

Other debt(1)

 

 

2,869

 

 

 

—

 

Less: original issue discounts

 

 

(2,111

)

 

 

(2,193

)

Less: unamortized deferred financing costs

 

 

(6,501

)

 

 

(6,844

)

Total debt, net

 

 

1,055,617

 

 

 

1,028,045

 

Less: current portion of debt

 

 

(34,130

)

 

 

(6,888

)

Total debt, net of current portion

 

$

1,021,487

 

 

$

1,021,157

 

(1) Other debt consists of immaterial equipment financing arrangements entered into in the normal course of business, including certain equipment leases accounted for as financing arrangements.
Schedule of Consolidated First Lien Net Leverage Ratio and Applicable Prepayment Percentage

In addition, the Amended Term Loan requires mandatory prepayments equal to the product of the excess cash flows of the Company (as defined in the Amended and Restated Term Loan Agreement) and the applicable prepayment percentages (calculated as of the last day of the fiscal year), as set forth in the following table:

 

Consolidated First Lien Net Leverage Ratio (As Defined in the Amended and Restated Term Loan Agreement)

 

Applicable
Prepayment
Percentage

> 3.70:1.00

 

50%

< 3.70:1.00 and > 3.20:1.00

 

25%

< 3.20:1.00

 

0%