Long-Term Debt, Net (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Debt is summarized in the following table (in thousands):

	Interest Rate	Maturity Date	September 30, 2022			December 31, 2021
2011 Senior Notes Series B (1)	4.11%	September 30, 2023	$	75,000		$	75,000
2021 Senior Notes Series A (2)	4.09%	January 12, 2026		45,000			45,000
2021 Senior Notes Series B (2)	4.38%	January 12, 2028		15,000			15,000
Credit Facility				50,000			55,000
Total long-term debt				185,000			190,000
Less: Debt issuance costs				(2,323	)		(1,364	)
Long-term debt, net			$	182,677		$	188,636

(1) Interest is payable semi-annually on March 30 and September 30.

(2) Interest is payable semi-annually on June 30 and December 30.

We have three series of senior notes outstanding with an aggregate principal amount of $135 million that were issued through private placement transactions. Series B of the 2011 Senior Notes was issued in 2011 (the "2011 Senior Notes").

Schedule of Maximum Leverage Ratios

Pursuant to the terms of the Amended Credit Facility, the maximum leverage ratio permitted is as follows:

Quarter ending	Maximum leverage ratio permitted
June 30, 2022, and September 30, 2022	2.75
December 31, 2022, and thereafter	2.50