v3.26.1
Debt (Tables)
6 Months Ended
Jun. 30, 2026
Debt Instrument [Line Items]  
Schedule of Debt

As of June 30, 2026 and December 31, 2025, debt consisted of the following:

 

 

June 30,
2026

 

 

December 31,
2025

 

6.25% Senior Notes due 2030

 

$

825,000

 

 

$

825,000

 

6.50% Senior Notes due 2033

 

 

600,000

 

 

 

600,000

 

2025 Revolving Credit Facility

 

 

200,000

 

 

 

25,000

 

Insurance financing notes

 

 

2,199

 

 

 

8,657

 

Asset financing notes

 

 

8,382

 

 

 

6,272

 

Total debt

 

 

1,635,581

 

 

 

1,464,929

 

Current portion of long-term debt

 

 

(6,606

)

 

 

(12,546

)

Unamortized debt issuance costs

 

 

(19,044

)

 

 

(20,546

)

Total long-term debt

 

$

1,609,931

 

 

$

1,431,837

 

 

Schedule of Carrying Amount and Estimated Fair Value of Debt

As of June 30, 2026 and December 31, 2025, the carrying amount and fair value of the Notes are as follows:

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

Carrying Amount

 

 

Estimated Fair Value (1)

 

 

Carrying Amount

 

 

Estimated Fair Value (1)

 

Notes

 

$

1,425,000

 

 

$

1,431,375

 

 

$

1,425,000

 

 

$

1,426,688

 

(1)
The fair value was determined based on observable market prices of identical instruments in less active markets and is categorized accordingly as Level 2 in the fair value hierarchy.
2025 Revolving Credit Facility  
Debt Instrument [Line Items]  
Schedule of Margin Ranges

The applicable margin on the interest rate, the commitment fees and the letter of credit fees are determined based on the Company’s leverage ratio. The applicable margin ranges are:

 

Term SOFR applicable margin

 

2.00% - 3.00%

Base Rate applicable margin

 

1.00% - 2.00%

Commitment fees

 

0.375% - 0.500%

Letter of credit fees

 

2.00% - 3.00%