v3.26.3
Corporate Financing Arrangements (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The following table summarizes the Company's corporate financing arrangements (dollars in thousands):
Outstanding principal balance
September 30, 2026
Term Loan B$400,000 
Revolver— 
Total$400,000 
The following table presents certain information regarding the Company's Term Loan B (dollars in thousands):
September 30, 2026
Principal$400,000 
Deferred financing costs(5,787)
Unamortized discount(945)
Carrying value$393,268 
The Company's financial covenants and guarantees for outstanding borrowings related to the Revolver require the Company and Holdco to maintain compliance with the following financial covenants (among others):
Financial CovenantCurrent
Total Debt to Total Assets
Maximum total debt to total assets ratio of the Company and its subsidiaries of 83.333%.
Cash Liquidity
Minimum cash liquidity of no less than the greater of: $15.0 million; and 5.0% of the Company and Holdco’s recourse indebtedness.
Interest Coverage
Minimum interest coverage ratio of no less than 1.3 to 1.0.