v3.26.1
DEBT AND CREDIT FACILITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Components of Senior Notes Outstanding
The components of our Senior Notes due 2026 are as follows:
6.50% (1)
(in thousands)June 30, 2026December 31, 2025
Senior Notes due 2026
$61,832 $84,792 
Unamortized deferred financing costs(463)(919)
Net debt balance$61,369 $83,873 
(1) The 6.50% Senior Notes mature in December 2026 and is included in Current senior notes in the Condensed Consolidated Balance Sheets at June 30, 2026 and December 31, 2025. As of June 30, 2026 the 6.50% Senior Notes bear an effective interest rate of 8.0%.
The components of our Senior Notes due 2030 are as follows:

8.75% (1)
(in thousands)June 30, 2026December 31, 2025
Senior Notes due 2030
$129,473 $129,473 
Unamortized deferred financing costs(5,234)(5,867)
Unamortized premium23,668 27,364 
Net debt balance$147,907 $150,970 
(1) The 8.75% Senior Notes mature in June 2030 and is included in Senior Notes due 2030 in the Condensed Consolidated Balance Sheets at June 30, 2026 and December 31, 2025. As of June 30, 2026 the 8.75% Senior Notes bear an effective interest rate of 4.8%.
Schedule of Long-Term Debt Instruments
A summary of usage of letters of credit under domestic facilities is as follows:
(in thousands)June 30, 2026December 31, 2025
Letters of credit under domestic facilities:
Performance letters of credit$26,322 $45,236 
Financial letters of credit12,836 14,365 
Total outstanding$39,158 $59,601 
Backstopped letters of credit$2,073 $7,194 
Surety backstopped letters of credit2,017 16,452 
Letters of credit subject to currency revaluation21,139 27,105 
Schedule of Line of Credit Facilities
The following table provides a summary of outstanding letters of credit issued outside of the domestic facilities, and outstanding surety bonds:
(in thousands)June 30, 2026December 31, 2025
Letters of credit under non-domestic facilities$1,905 $6,545 
Surety Bonds 246,148 253,407 
Schedule of Interest Expenses
Interest expense in the Condensed Consolidated Financial Statements consisted of the following components:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Components associated with borrowings from:
Credit Agreement$4 $1,138 $7 $2,265 
Senior Notes due 20261,135 5,201 2,307 11,521 
Senior Notes due 20302,832 1,038 5,664 1,038 
3,971 7,377 7,978 14,824 
Components associated with amortization or accretion of:
Credit Agreement691 1,477 921 3,086 
Senior Notes due 2026229 488 456 1,144 
Senior Notes due 2030(1,361)(577)(3,062)(577)
(441)1,388 (1,685)3,653 
Components associated with interest from:
Lease liabilities586 645 1,148 1,236 
Letter of credit interest1,012 1,399 2,418 1,892 
Other interest expense229 183 268 429 
Capitalized interest(350)— (672)— 
1,477 2,227 3,162 3,557 
Total interest expense$5,007 $10,992 $9,455 $22,034