v3.26.1
Long-Term Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-Term Debt

8. Long-Term Debt

Long-term debt consisted of the following as of:

 

 

 

June 30,
2026

 

 

December 31,
2025

 

 

 

(in thousands)

 

Revolving credit facility (1)

 

$

165,000

 

 

$

—

 

4.25% 2032 notes

 

 

1,300,000

 

 

 

1,300,000

 

6.375% 2034 notes

 

 

1,000,000

 

 

 

1,000,000

 

6.75% 2035 notes

 

 

750,000

 

 

 

750,000

 

6.375% 2032 notes

 

 

700,000

 

 

 

700,000

 

5.00% 2030 notes

 

 

550,000

 

 

 

550,000

 

Other finance obligations

 

 

166,565

 

 

 

183,891

 

Finance lease obligations

 

 

821

 

 

 

1,155

 

 

 

 

4,632,386

 

 

 

4,485,046

 

Unamortized debt discount/premium and debt issuance costs

 

 

(41,072

)

 

 

(43,679

)

 

 

 

4,591,314

 

 

 

4,441,367

 

Less: current maturities of long-term debt

 

 

11,923

 

 

 

14,334

 

Long-term debt, net of current maturities, discounts and issuance costs

 

$

4,579,391

 

 

$

4,427,033

 

 

(1) The weighted average interest rate was 4.7% as of June 30, 2026.

 

The Company’s Revolving Facility and outstanding senior unsecured notes are discussed in more detail in our 2025 Form 10-K.

Fair Value

As of June 30, 2026, and December 31, 2025, the Company does not have any financial instruments that are measured at fair value on a recurring basis. We have elected to report the value of our Revolving Facility, 4.25% senior notes due 2032 (the “4.25% 2032 Notes”), 6.375% senior notes due 2034 (the “6.375% 2034 Notes”), 6.75% senior notes due 2035 (the “6.75% 2035 Notes”), 6.375% senior notes due 2032 (the “6.375% 2032 Notes”), and 5.00% senior notes due 2030 (the “5.00% 2030 Notes”), at amortized cost.

The following table presents the fair value of each such series of notes as of June 30, 2026, which was determined using Level 2 inputs based on market prices:

 

 

 

(in thousands)

 

4.25% 2032 notes

 

$

1,205,750

 

6.375% 2034 notes

 

 

1,005,000

 

6.75% 2035 notes

 

 

761,250

 

6.375% 2032 notes

 

 

707,875

 

5.00% 2030 notes

 

 

537,625

 

We were not in violation of any covenants or restrictions imposed by any of our debt agreements at June 30, 2026.