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DEBT (Tables)
3 Months Ended
Mar. 31, 2024
Schedule of Debt Outstanding

Debt outstanding as of March 31, 2024 and December 31, 2023 consisted of the following (in thousands):

 

 

 

March 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Revolving Credit Facility maturing October 2028. Interest
payable periodically at variable interest rates
.

 

$

 

 

$

 

Term Loan maturing October 2028. Interest payable
periodically at variable interest rates
. The rate at
    March 31, 2024 and December 31, 2023 was
8.7%.
    Unamortized debt issuance costs amounted to $
1.4 million and
    $
1.5 million at March 31, 2024 and December 31, 2023, respectively.

 

 

123,437

 

 

 

125,000

 

4.75% Senior Notes maturing October 2027. Unamortized debt
    issuance costs amounted to $
1.4 million and $1.5 million at
    March 31, 2024 and December 31, 2023, respectively.

 

 

243,068

 

 

 

243,068

 

8.25% Senior Notes maturing April 2026. Unamortized debt
    issuance costs amounted to $
5.8 million at December 31, 2023.
    The 8.25% Senior Notes were redeemed on April 15, 2024, as
    further described below.

 

 

98,774

 

 

 

593,113

 

8.25% Senior Notes maturing April 2029. Unamortized debt
    issuance costs amounted to $
9.6 million at March 31, 2024.

 

 

500,000

 

 

 

 

4.43% Lansing Correctional Facility Non-Recourse Mortgage
    Note maturing
January 2040. Unamortized debt issuance
    costs amounted to $
2.5 million and $2.6 million at
    March 31, 2024 and December 31, 2023, respectively.

 

 

144,237

 

 

 

145,510

 

Total debt

 

 

1,109,516

 

 

 

1,106,691

 

Unamortized debt issuance costs

 

 

(14,944

)

 

 

(12,052

)

Net unamortized original issue premium

 

 

 

 

 

434

 

Current portion of long-term debt

 

 

(110,487

)

 

 

(11,597

)

Long-term debt, net

 

$

984,085

 

 

$

1,083,476

 

Schedule of Principal Payments Scheduled principal payments as of March 31, 2024 for the remainder of 2024, the next five years, and thereafter were as follows (in thousands):

 

2024 (remainder)

 

$

107,536

 

2025

 

 

12,073

 

2026

 

 

15,701

 

2027

 

 

262,423

 

2028

 

 

97,995

 

2029

 

 

507,985

 

Thereafter

 

 

105,803

 

Total debt

 

$

1,109,516