Borrowings (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Company's Debt Position

The following tables summarizes the Company’s debt position:

	As of September 30, 2022		As of December 31, 2021
	Credit Facility
Current portion of long-term borrowings	$	35,000	$	260,016
Long-term borrowings	235,000		—
Total borrowings	$	270,000	$	260,016

Schedule of Credit Facilities Carried an Effective Interest Rate

The Credit Facility carried an effective interest rate as shown below:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Effective Interest Rate	3.4	%	2.3	%	2.3	%	2.0	%

Schedule of Maturities of Long-term Debt

Expected payments for all of the Company’s borrowings as of September 30, 2022 were as follows:

	Credit Facility		Interest Payments*
2022 (October 1 - December 31)	$	20,000	$	2,809
2023	15,000		10,505
2024	—		10,154
2025	—		10,154
2026	—		10,154
2027 and thereafter	235,000		3,808
Total	$	270,000	$	47,584

* Interest payments are based on effective interest rate as of September 30, 2022.