v3.26.1
DEBT AND FINANCING COSTS - (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The following table summarizes the Company’s debt obligations as of June 30, 2026 and December 31, 2025:
June 30,December 31,
20262025
(In thousands)
A/R Facility(1)
$225,000 $165,200 
Total current debt obligations
$225,000 $165,200 
Unsecured term loan(2)
$1,150,000 $1,150,000 
5.875% senior unsecured notes due 2030 (“2030 Notes”)
1,000,000 1,000,000 
6.625% senior unsecured notes due 2028 (“2028 Notes”)
1,050,000 1,050,000 
Revolving line of credit(3)
523,000 453,000 
Total long-term debt3,723,000 3,653,000 
Unamortized debt issuance costs, net(4)
(21,543)(24,374)
Unamortized debt premiums and discounts, net(5)
(895)(906)
Total long-term debt, net$3,700,562 $3,627,720 
(1)The effective interest rate was 4.50% and 4.65% as of June 30, 2026 and December 31, 2025, respectively.
(2)The effective interest rate of the Term Loan Credit Agreement was 5.37% and 5.44% as of June 30, 2026 and December 31, 2025, respectively.
(3)The weighted average effective interest rate of the Revolving Credit Agreement was 5.37% and 5.44% as of June 30, 2026 and December 31, 2025, respectively.
(4)Fees paid directly to third parties were capitalized as debt issuance costs, included in the Condensed Consolidated Balance Sheets as direct deductions from respective loans, and are amortized using the effective interest method. As of June 30, 2026, unamortized debt issuance costs consisted of $1.8 million for the unsecured term loan, $7.8 million for the 2028 Notes and $12.0 million for 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 June 30, 2026, there were unamortized debt discount of $2.1 million for the unsecured term loan and debt premium, net, of $1.2 million for the 2028 Notes.
Schedule of Financing Costs, Net
The table below presents the components of the Company’s financing costs, net of capitalized interest:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Capitalized interest$(2,969)$(4,555)$(4,743)$(7,859)
Debt issuance costs1,949 2,012 3,913 3,984 
Interest expense55,141 59,057 108,371 116,103 
Total financing costs, net of capitalized interest$54,121 $56,514 $107,541 $112,228