v3.26.1
Borrowings
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Borrowings Borrowings
Borrowings consisted of the following as of June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026December 31, 2025
North American revolving credit facility (1)
$565,092 $520,736 
North American term loan (2)
455,111 460,111 
United Kingdom revolving credit facility (3)
491,946 499,848 
European revolving credit facility (4)
618,227 577,335 
Colombian revolving credit facility245 2,611 
Credit facility borrowings2,130,621 2,060,641 
2028 senior notes398,000 398,000 
2029 senior notes350,000 350,000 
2030 senior notes550,000 550,000 
2032 senior notes342,630 352,350 
Senior notes1,640,630 1,650,350 
Credit facility borrowings and senior notes3,771,251 3,710,991 
Unamortized debt premium and issuance costs, net(11,898)(13,653)
Total borrowings$3,759,353 $3,697,338 
(1)Revolving credit facility under the Company's North American credit agreement with a combined domestic and Canadian limit of $1.1 billion (subject to the borrowing base and debt covenants, including advance rates), maturing on October 28, 2029.
(2)Term loan under the Company's North American credit agreement with a maturity date of October 28, 2029.
(3)Revolving credit facility with a limit of $725.0 million (subject to the borrowing base and debt covenants, including advance rates), maturing on October 30, 2029.
(4)Revolving credit facility with an aggregate limit of approximately €730.0 million (subject to the borrowing base and debt covenants, including advance rates), maturing on April 30, 2031.
European revolving credit facility
The Company amended and extended its European revolving credit facility on April 30, 2026, resulting in the extension of the maturity date from November 23, 2027 to April 30, 2031; the reduction of the maximum ERC ratio (as defined in the agreement) from 45.0% to 40.0%; and, subject to certain conditions, the ability of the borrowers to make investments in, or loans to, joint ventures up to an aggregate amount of €100 million.
For additional information about the Company's credit facilities, term loan and senior notes, refer to Note 7 to the Consolidated Financial Statements in the 2025 Form 10-K. The Company was in compliance with the covenants contained in its financing arrangements as of June 30, 2026.