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Debt (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Carrying Amount and Fair Value of Long-Term Debt Instruments
Long-term debt is as follows:
 SEPTEMBER 30, 2023DECEMBER 31, 2022
 
DEBT
(INCLUSIVE OF
DISCOUNT)
UNAMORTIZED
DEFERRED
FINANCING
COSTS
CARRYING
AMOUNT
FAIR
VALUE
DEBT
(INCLUSIVE OF
DISCOUNT)
UNAMORTIZED
DEFERRED
FINANCING
COSTS
CARRYING
AMOUNT
FAIR
VALUE
Revolving Credit Facility(1)
$1,049,500 $(4,976)$1,044,524 $1,049,500 $1,072,200 $(6,790)$1,065,410 $1,072,200 
Term Loan A(1)
231,250 — 231,250 231,250 240,625 — 240,625 240,625 
Term Loan B(1)(3)
660,992 (2,810)658,182 661,500 666,073 (3,747)662,326 666,750 
Virginia 3 Term Loans26,134 (3,915)22,219 26,134 — — — — 
Australian Dollar Term Loan187,853 (491)187,362 189,349 202,641 (633)202,008 204,623 
UK Bilateral Revolving Credit Facility170,858 — 170,858 170,858 169,361 — 169,361 169,361 
37/8% GBP Senior Notes due 2025 (the "GBP Notes")
488,166 (1,920)486,246 458,959 483,888 (2,589)481,299 445,206 
47/8% Senior Notes due 2027 (the "47/8% Notes due 2027")(2)
1,000,000 (5,688)994,312 913,750 1,000,000 (6,754)993,246 917,500 
51/4% Senior Notes due 2028 (the "51/4% Notes due 2028")(2)
825,000 (5,314)819,686 755,906 825,000 (6,200)818,800 754,875 
5% Senior Notes due 2028 (the "5% Notes due 2028")(2)
500,000 (3,497)496,503 451,250 500,000 (4,039)495,961 450,000 
7% Senior Notes due 2029 (the "7% Notes due 2029")(2)
1,000,000 (11,253)988,747 972,500 — — — — 
47/8% Senior Notes due 2029 (the "47/8% Notes due 2029")(2)
1,000,000 (8,679)991,321 872,500 1,000,000 (9,764)990,236 865,000 
51/4% Senior Notes due 2030 (the "51/4% Notes due 2030")(2)
1,300,000 (10,279)1,289,721 1,124,500 1,300,000 (11,407)1,288,593 1,111,500 
41/2% Senior Notes due 2031 (the "41/2% Notes")(2)
1,100,000 (9,228)1,090,772 902,000 1,100,000 (10,161)1,089,839 891,000 
5% Senior Notes due 2032 (the "5% Notes due 2032")750,000 (11,532)738,468 615,000 750,000 (12,511)737,489 622,500 
55/8% Senior Notes due 2032 (the "55/8% Notes")(2)
600,000 (5,130)594,870 513,000  600,000 (5,566)594,434 520,500 
Real Estate Mortgages, Financing Lease Liabilities and Other502,787 (443)502,344 502,787 425,777 (578)425,199 425,777 
Accounts Receivable Securitization Program349,200 (372)348,828 349,200 314,700 (531)314,169 314,700 
Total Long-term Debt11,741,740 (85,527)11,656,213  10,650,265 (81,270)10,568,995 
Less Current Portion(107,984)— (107,984) (87,546)— (87,546) 
Long-term Debt, Net of Current Portion$11,633,756 $(85,527)$11,548,229  $10,562,719 $(81,270)$10,481,449  
(1)Collectively, the “Credit Agreement”. The Credit Agreement consists of a revolving credit facility (the “Revolving Credit Facility”), a term loan A (the “Term Loan A”) and a term loan B (the "Term Loan B"). The Revolving Credit Facility and the Term Loan A are scheduled to mature on March 18, 2027. The Term Loan B is scheduled to mature on January 2, 2026. The remaining amount available for borrowing under the Revolving Credit Facility as of September 30, 2023 was $1,196,037 (which amount represents the maximum availability as of such date). The weighted average interest rate in effect under the Revolving Credit Facility was 7.2% and 6.2% as of September 30, 2023 and December 31, 2022, respectively.
(2)Collectively, the "Parent Notes". IMI is the direct obligor on the Parent Notes, which are fully and unconditionally guaranteed, on a senior basis, by IMI’s United States subsidiaries that represent the substantial majority of our United States operations (the "Note Guarantors"). These guarantees are joint and several obligations of the Note Guarantors. The remainder of our subsidiaries do not guarantee the Parent Notes.
(3)Due to the discontinuance of the LIBOR reference rate on June 30, 2023, we transitioned the Term Loan B from an interest rate of LIBOR plus 1.75% to a synthetic LIBOR rate plus 1.75%, effective July 1, 2023. All other terms remain the same as what was disclosed in Note 7 to Notes to Consolidated Financial Statements included in our Annual Report.
On May 15, 2023, IMI completed a private offering of:
SERIES OF NOTESAGGREGATE PRINCIPAL AMOUNTMATURITY DATEINTEREST PAYMENT DUE
PAR CALL DATE(1)
7% Notes due 2029
$1,000,000 February 15, 2029February 15 and August 15August 15, 2025
(1)We may redeem the 7% Notes due 2029 at any time, at our option, in whole or in part. Prior to the par call date, we may redeem the 7% Notes due 2029 at the redemption price or make-whole premium specified in the indenture governing the 7% Notes due 2029, together with accrued and unpaid interest to, but excluding, the redemption date. On or after the par call date, we may redeem the 7% Notes due 2029 at a price equal to 100% of the principal amount being redeemed, together with accrued and unpaid interest to, but excluding, the redemption date.