v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt The following table sets forth the face values of our outstanding debt as of September 30, 2026 and December 31, 2025 (in thousands):
RateMaturitySeptember 30, 2026December 31, 2025
Senior secured credit facilities:
2024 Term Loan B-1
S(1) + 6.00%
November 2029397,100 397,100 
2024 Term Loan B-2
S(1) + 6.00%
November 202973,688 74,250 
2025 Term Loan B-1
S(1) + 6.25%
July 2029286,078 288,240 
2025 Term Loan B-2
S(1) + 6.25%
July 202986,109 86,760 
Securitization facility:
AR Facility
S(1) + 2.75%(2)
March 2029(2)
93,000 82,000 
FILO Facility
S(1) + 6.25%
March 2029(2)
120,000 120,000 
7.32% senior exchangeable notes due 2026
7.32%August 2026— 150,000 
7.00% senior exchangeable notes due 2031
7.00%
May 2031(3)
150,000 — 
8.625% senior secured notes due 2027
8.625%June 2027— 91,607 
11.25% senior secured notes due 2027
11.25%December 2027— 1,558 
10.75% senior secured notes due 2029
10.75%November 2029193,827 445,715 
11.125% senior secured notes due 2030
11.125%July 20301,325,000 1,325,000 
10.75% senior secured notes due 2030
10.750%March 2030469,802 469,802 
11.125% senior secured notes due 2029
11.125%June 202969,318 1,000,000 
9.875% senior secured notes due 2032
9.875%October 20321,350,000 — 
Face value of total debt outstanding4,613,922 4,532,032 
Less current portion of debt outstanding(73,818)(247,665)
Face value of long-term debt outstanding$4,540,104 $4,284,367 
______________________

(1) Represents the Secured Overnight Financing Rate ("SOFR").
(2) The Securitization Facility (as defined below) is subject to certain "springing" maturity conditions; the maturity may extend to September 2029 at the latest.
(3) The 2031 Exchangeable Notes (as defined below) contractually mature in May 2031; however, the holders possess a non-contingent, unilateral option to require us to repurchase all or any portion of their notes at 100% of the principal amount plus accrued and unpaid interest, exercisable solely on May 15, 2029.
Schedule of Interest Rate Swaps Outstanding
Interest rate swaps outstanding during the nine months ended September 30, 2026 and 2025, are as follows:
Notional AmountInterest Rate
Received		Interest Rate PaidEffective DateMaturity Date
Designated as Hedging Instrument
$250 million
1 month SOFR(1)
4.72%
June 30, 2023June 30, 2026
$250 million
1 month SOFR(1)
4.37%
January 16, 2024January 31, 2026
______________________
(1)    Subject to a 0.5% floor.
Schedule of Exchangeable Notes
The following table sets forth the carrying value of the Exchangeable Notes as of September 30, 2026 and December 31, 2025 (in thousands):
September 30, 2026December 31, 2025
2031 Exchangeable Notes2026 Exchangeable Notes
Principal$150,000 $150,000 
Less: Unamortized debt issuance costs4,830 1,274 
Net carrying value$145,170 $148,726 
Schedule of Interest Expense Recognized
The following table sets forth interest expense recognized related to the Exchangeable Notes for the three and nine months ended September 30, 2026 and 2025 (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
2026 Exchangeable Notes2031 Exchangeable Notes2025 Exchangeable Notes2026 Exchangeable Notes2026 Exchangeable Notes2031 Exchangeable Notes2025 Exchangeable Notes2026 Exchangeable Notes
Contractual interest expense$305 $2,625 $— $2,745 $4,921 $3,879 $2,138 $8,235 
Amortization of debt issuance costs62 407 — 515 974 599 414 1,511