Borrowings (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Company's Debt Position

The following table summarizes the Company’s debt position:

	As of
	June 30, 2023		December 31, 2022
	Revolving credit facility
Current portion of long-term borrowings	$	30,000	$	30,000
Long-term borrowings	190,000		220,000
Total borrowings	$	220,000	$	250,000

Schedule of Credit Facilities Carried an Effective Interest Rate

The revolving credit facility carried an effective interest rate as shown below:

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Effective Interest Rate	6.2	%	2.0	%	6.1	%	1.7	%

Schedule of Maturities of Long-term Debt

Expected payments for all of the Company’s borrowings as of June 30, 2023 were as follows:

	Revolving credit facility
	Principal Payments		Interest Payments*
2023 (July 1 - December 31)	$	30,000	$	6,216
2024	—		11,522
2025	—		11,522
2026	—		11,522
2027	190,000		4,321
Total	$	220,000	$	45,103

* Interest payments are based on interest rate prevailing as of June 30, 2023.