Bank and Other Notes Payable |
6 Months Ended |
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Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Bank and Other Notes Payable | Bank and Other Notes Payable: Bank and other notes payable consist of the following: Credit Facility: Previously, the Company had a $650,000 revolving credit facility, which was scheduled to mature on February 1, 2027. On February 24, 2026, the Company entered into an amended and restated credit agreement (the "Credit Agreement"), which amended and restated the prior credit agreement and provides for an aggregate $900,000 revolving credit facility that matures on March 1, 2029, with an option for the Company to extend maturity until March 1, 2030. The Company has the ability from time to time to increase the size of the revolving credit facility up to an aggregate amount of $1,100,000, subject to the receipt of lender commitments and other conditions. Loans made under the Credit Agreement bear interest, at the Company’s election, at either the Base Rate (as defined in the Credit Agreement) or Term SOFR (as defined in the Credit Agreement) plus, in both cases, an applicable margin. The current applicable margin depends on the Company’s overall debt yield and ranges from 0.80% to 2.20% over the selected index rate. Upon the achievement of certain performance thresholds, the applicable margin will depend on the Company’s overall net debt to EBITDA ratio and will be in a range of 0.35% to 1.65% over the selected index rate. As of June 30, 2026, the borrowing rate was plus a spread of 1.90%. As of June 30, 2026, there were no borrowings under the revolving credit facility. Unamortized deferred finance costs were $17,527 as of June 30, 2026, which are netted against balances outstanding or within deferred charges and other assets, net when no borrowings are outstanding on the revolving credit facility which was the case as of June 30, 2026. As of June 30, 2026, the Company’s availability under the revolving credit facility for additional borrowings was $899,487. As of June 30, 2026 and December 31, 2025, the Company was in compliance with all applicable financial loan covenants.
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