Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt [Abstract]

Debt Facilities

The following table summarizes the Company’s debt facilities as of March 31, 2020 and December 31, 2019:

Facility or Arrangement	Original Principal Amount		Balance as of March 31, 2020(1)(2)		Balance as of December 31, 2019(2)		Interest Rate	Repayment Terms
Credit Agreement term loan facility	$	400.0 million	$	360.0 million	$	365.0 million	Variable 30 day: 2.74%	35% of the principal amount is payable in increasing quarterly installments over a five-year period that began on June 30, 2018, with the remainder payable at the end of the five-year term.
Credit Agreement revolving credit facility			$	65.0 million	$	—	Variable 30 day: 2.68%	Revolving line of credit expires April 18, 2023.

(1) As of March 31, 2020, the current portion of the Company’s debt (i.e. becoming due in the next 12 months) included $30.0 million of the balance of its term loan under the Credit Agreement. The Company has classified the $65.0 million borrowed under the revolving line of credit as short term because it is the Company’s intention to use the line of credit to borrow and pay back funds over short periods of time.

(2) The carrying value of the debt reflects the amounts stated in the above table less debt issuance costs of $2.8 million and $3.0 million as of March 31, 2020 and December 31, 2019, respectively, related to the Credit Agreement, which are not reflected in this table.