LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following (in thousands):

	December 31, 2020				December 31, 2019
	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
ABL Revolver	$	—	—		$	—	—
Term Loan B	330,000		325,875		244,375		244,375
Total Debt	330,000		325,875		244,375		244,375
Less: Current maturities	(3,300)		(3,259)		(2,500)		(2,500)
Total Long-term Debt	$	326,700	$	322,616	$	241,875	$	241,875

(1) Carrying value amount do not include unamortized debt issuance costs of $9.6 million and $6.5 million for year ended December 31, 2020 and December 31, 2019 respectively.

Schedule of Secured Leverage Ratio to EBITDA

Secured Leverage Ratio – The Term Loan B Agreement requires that the Company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of unrestricted cash, not to exceed $150 million) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2020, is either equal to or less than as indicated in the table below:

Fiscal Quarter	Secured Leverage Ratio
December 31, 2020	5.75:1:00
March 31, 2021	5.75:1:00
June 30, 2021	5.75:1:00
September 30, 2021	5.50:1:00
December 31, 2021	5.50:1:00
March 31, 2022	5.25:1:00
June 30, 2022	5.25:1:00
September 30, 2022	5.25:1:00
December 31, 2022	5.00:1:00
March 31, 2023	5.00:1:00
June 30, 2023 and each Fiscal Quarter thereafter	4.75:1:00

Schedule of Interest Rate on Borrowings Outstanding

The interest rates on our borrowings outstanding at December 31, 2020 and 2019, including the amortization of debt issuance costs, were as follows:

	December 31,
	2020		2019
ABL Revolver	1.9	%	3.5	%
Term Loan B	5.75	%	6.5	%
Weighted average interest rate	5.75	%	6.5	%

Schedule of Maturities of Long-term Debt

As of December 31, 2020, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):

Year	$ Amount
2021	$	3,300
2022	3,300
2023	3,300
2024	3,300
2025	3,300
Thereafter	313,500
Total	$	330,000