v3.26.1
DEBT AND FINANCING COSTS - (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The following table summarizes the Company’s debt obligations as of March 31, 2026 and December 31, 2025:
March 31,December 31,
20262025
(In thousands)
A/R Facility(1)
$187,100 $165,200 
Total current debt obligations
$187,100 $165,200 
Unsecured term loan(2)
$1,150,000 $1,150,000 
5.875% senior unsecured notes (“2030 Notes”)
1,000,000 1,000,000 
6.625% senior unsecured notes (“2028 Notes”)
1,050,000 1,050,000 
Revolving line of credit(3)
468,000 453,000 
Total long-term debt3,668,000 3,653,000 
Unamortized debt issuance costs, net(4)
(22,970)(24,374)
Unamortized debt premiums and discounts, net(5)
(902)(906)
Total long-term debt, net$3,644,128 $3,627,720 
(1)The effective interest rate was 4.61% and 4.65% as of March 31, 2026 and December 31, 2025, respectively.
(2)The effective interest rate of the Term Loan Credit Agreement was 5.39% and 5.44% as of March 31, 2026 and December 31, 2025, respectively.
(3)The weighted average effective interest rate of the Revolving Credit Agreement was 5.39% and 5.44% as of March 31, 2026 and December 31, 2025, respectively.
(4)Fees paid directly to third parties were capitalized as debt issuance cost, included in the Condensed Consolidated Balance Sheets as direct deductions to respective loans, are amortized using effective interest method. As of March 31, 2026, unamortized debt issuance costs consisted of $1.9 million to the unsecured term loan, $8.4 million to the 2028 Notes and $12.6 million to the 2030 Notes.
(5)The original debt premium, net of debt discount were included in the Condensed Consolidated Balance Sheets as adjustments to respective loans and amortized over the life of the loans using the effective interest method. As of March 31, 2026, there were unamortized debt discount of $2.2 million to the unsecured term loan and debt premium, net, of $1.3 million to the 2028 Notes.
Schedule of Financing Costs, Net
The table below presents the components of the Company’s financing costs, net of capitalized interest:
Three Months Ended March 31,
20262025
(In thousands)
Capitalized interest$(1,774)$(3,304)
Debt issuance costs1,963 1,972 
Interest expense53,231 57,046 
Total financing costs, net of capitalized interest$53,420 $55,714