Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt [Abstract]

Debt Facilities

The following table summarizes the Company’s debt facilities as of September 30, 2022 and December 31, 2021:

Facility or Arrangement	Original Principal Amount	Balance as of September 30, 2022 (1)(2)	Balance as of December 31, 2021 (1)(2)	Interest Rate	Repayment Terms
2018 Credit Agreement term loan facility	$400.0 million	—	$307.5 million	Variable 30 day: 2.80%	Principal amount was paid in full during June 2022.
2018 Credit Agreement revolving credit facility		—	$70.0 million	Variable 30 day: 2.72%	Principal amount was paid in full during June 2022 and credit line was closed.
Credit Agreement term loan facility	$400.0 million	$397.5 million	—	Variable 30 day: 4.88%	21% of the principal amount is payable in increasing quarterly installments over a five-year period that began on September 30, 2022, with the remainder payable at the end of the five-year term.
Credit Agreement revolving credit facility		$30.0 million	—	Variable 30 day: 4.88%	Revolving line of credit expires June 14, 2027.

(1) As of September 30, 2022 and December 31, 2021, the current portion of the Company’s debt (i.e., becoming due in the next 12 months) included $12.5 million and $37.5 million, respectively, of the balance of its term loan under the Credit Agreement and 2018 Credit Agreement.

(2) The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $2.7 million and $1.2 million as of September 30, 2022 and December 31, 2021, respectively, related to the Credit Agreement and 2018 Credit Agreement, which are not reflected in this table.