v3.26.1
DEBT (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The carrying amount of long-term debt consisted of the following (in thousands):
June 30, 2026December 31, 2025
Senior Credit Facilities (as defined below)$2,207,832 $1,706,812 
Senior Notes (as defined below)502,646 582,013 
Convertible Notes (as defined below)(1)
345,000 920,000 
Finance lease liabilities2,873 2,954 
Total debt3,058,351 3,211,779 
Less: Unamortized debt discount(2,198)(3,436)
Less: Unamortized debt issuance costs(10,968)(14,416)
Less: Current portion of long-term debt(1)
(18,060)(593,535)
Total long-term debt$3,027,125 $2,600,392 
(1)The 2026 Notes (as defined and described below), which were included within the current portion of long-term debt as of December 31, 2025, matured in March 2026.
Schedule of Term Loans A summary of the Company’s outstanding term loans as of June 30, 2026 is as follows (dollars in thousands):
Instrument
Draw Date(s)
Original Principal
Amortization
Per Annum(1)
Outstanding Principal
Final Scheduled
Maturity Date
Final Scheduled
Principal Payment
Benchmark Rate
Fixed Margin
Interest Rate
Term Loan B-21/7/2019$250,000 1.0%$231,875 
10/30/2029(2)
$223,750 SOFR + 10.0 bps2.25%5.99%
Term Loan B-3
6/14/2019
10/30/2020
2/22/2023
325,000
300,000
150,000
1.0%729,863 
10/30/2029(2)
704,695 SOFR + 10.0 bps2.25%5.99%
Term Loan B-45/3/2021800,000 1.0%696,094 5/3/2028683,271 SOFR + 11.4 bps2.00%5.76%
Total$1,825,000 $1,657,832 $1,611,716 
(1)Payable in equal quarterly installments (expressed as a percentage of the original principal amount and subject to customary adjustments in the event of any prepayment). All loans may be prepaid at any time without penalty or premium (subject to customary SOFR breakage provisions).
(2)The final maturity date of the Term Loan B-2 and the Term Loan B-3, in each case, will adjust to May 3, 2028 if greater than $150.0 million aggregate principal amount of the Term Loan B-4 (together with any refinancing indebtedness in respect of the Term Loan B-4 with a final maturity date prior to the date that is 91 days after October 30, 2029) remains outstanding on May 3, 2028.
Schedule of Convertible Debt
The carrying amounts of the Convertible Notes consisted of the following (in thousands):
June 30, 2026December 31, 2025
2028 Notes2026 Notes2028 NotesTotal
Gross carrying amount$345,000 $575,000 $345,000 $920,000 
Less: Unamortized discount(2,198)(600)(2,836)(3,436)
Less: Unamortized debt issuance costs(62)(16)(80)(96)
Net carrying amount$342,740 $574,384 $342,084 $916,468 
Interest expense on the Convertible Notes consisted of the following (dollars in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
2028 Notes2026 Notes2028 NotesTotal2026 Notes2028 NotesTotal2026 Notes2028 NotesTotal
Contractual interest expense$970$—$970$970 $—$1,941$1,941 $—$1,941$1,941 
Amortization of discount3217483211,069 6006381,238 1,4886392,127 
Amortization of debt issuance costs920929 161834 401858 
Total interest expense$1,300$768$1,300$2,068 $616$2,597$3,213 $1,528$2,598$4,126 
Effective interest rate1.5 %0.5 %1.5 %0.5 %1.5 %0.5 %1.5 %
Schedule of Unamortized Debt Issuance Costs
Unamortized debt issuance costs consisted of the following (in thousands):
June 30, 2026December 31, 2025
Revolving Credit Facility portion:
Other noncurrent assets$2,020 $4,030 
Term loans and Notes portion:
Long-term debt (contra account)10,968 14,416 
Total$12,988 $18,446 
Schedule of Maturities of Long-Term Debt
The future maturities of outstanding borrowings as of June 30, 2026 are as follows (in thousands):
Year Ending December 31,Amount
2026 (remaining six months)$8,786 
202717,571 
20281,590,347 
2029936,128 
2030502,646 
Thereafter— 
Total$3,055,478