XML 111 R85.htm IDEA: XBRL DOCUMENT v3.22.4
Debt And Financing (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Sep. 03, 2021
Jul. 06, 2021
Dec. 31, 2021
Debt Instrument [Line Items]        
Long-Term Debt excluding Revolver and Other $ 1,037,462     $ 1,249,969
Long-term debt – less current portion 1,024,668     1,037,552
Revolving line of credit 43,000     260,000
Long-term debt 1,080,462     1,509,969
Debt Issuance Costs, Net 400     500
Letters of Credit Outstanding, Amount 173,100      
Finance Lease Liabilities and Long-term Debt, Current Portion        
Debt Instrument [Line Items]        
Less: current portion of long-term debt (12,794)     (212,417)
2021 Term Loan A-1        
Debt Instrument [Line Items]        
Long-Term Debt excluding Revolver and Other [1],[2] 0     199,676
Maximum borrowing capacity   $ 200,000    
Final maturity date   Dec. 03, 2022    
Interest rate base   BSBY    
Minimum principal payment — amount   $ 0    
Minimum principal payment — frequency   Once    
Minimum principal payment — commencement date   Dec. 03, 2022    
2021 Term Loan A-1 | Minimum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3]   0.75%    
2021 Term Loan A-1 | Maximum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3]   1.38%    
2021 Term Loan A-2        
Debt Instrument [Line Items]        
Long-Term Debt excluding Revolver and Other [1],[2] 199,755     199,607
Maximum borrowing capacity   $ 200,000    
Final maturity date   Sep. 03, 2024    
Interest rate base   BSBY    
Minimum principal payment — amount   $ 0    
Minimum principal payment — frequency   Once    
Minimum principal payment — commencement date   Sep. 03, 2024    
2021 Term Loan A-2 | Minimum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3]   0.75%    
2021 Term Loan A-2 | Maximum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3]   1.38%    
2021 Term Loan A-3        
Debt Instrument [Line Items]        
Long-Term Debt excluding Revolver and Other [1],[2] $ 798,705     798,352
Maximum borrowing capacity   $ 800,000    
Final maturity date   Sep. 03, 2026    
Interest rate base   BSBY    
Minimum principal payment — amount   $ 10,000    
Minimum principal payment — frequency   Quarterly    
Minimum principal payment — commencement date   Sep. 30, 2024    
Debt Instrument, Interest Rate During Period 4.882%      
2021 Term Loan A-3 | Minimum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3]   0.88%    
2021 Term Loan A-3 | Maximum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3]   1.50%    
2021 Prudential Notes        
Debt Instrument [Line Items]        
Long-Term Debt excluding Revolver and Other [1] $ 35,960     47,265
Debt Instrument, Unused Borrowing Capacity, Amount 90,700      
2021 Prudential Notes | Minimum [Member]        
Debt Instrument [Line Items]        
Interest rate margin   4.05%    
2021 Prudential Notes | Maximum [Member]        
Debt Instrument [Line Items]        
Interest rate margin   4.40%    
Other Debt        
Debt Instrument [Line Items]        
Secured Debt, Other 3,042     5,069
2021 Revolver        
Debt Instrument [Line Items]        
Letters of Credit Outstanding, Amount $ 15,800     64,000
Maximum borrowing capacity [4]   $ 1,100,000    
Final maturity date   Sep. 03, 2026    
Interest rate base [4]   BSBY    
Minimum principal payment — amount [4]   $ 0    
Minimum principal payment — frequency [4]   Once    
Minimum principal payment — commencement date [4]   Sep. 03, 2026    
Debt Instrument, Interest Rate During Period 5.074%      
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage 0.10%      
Line of Credit Facility, Commitment Fee Percentage 1.00%      
2021 Revolver | Minimum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3],[4]   0.88%    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage   0.07%    
2021 Revolver | Maximum [Member]        
Debt Instrument [Line Items]        
Interest rate margin [3],[4]   1.50%    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage   0.20%    
2021 Term Loans        
Debt Instrument [Line Items]        
Debt Instrument, Interest Rate During Period 4.757%      
July 2021 Term Loan        
Debt Instrument [Line Items]        
Interest rate base     BSBY  
Interest rate margin     1.00%  
Line of Credit [Member] | 2021 Revolver        
Debt Instrument [Line Items]        
Revolving line of credit [1],[5] $ 43,000     260,000
Loans Payable [Member]        
Debt Instrument [Line Items]        
Maximum borrowing capacity   $ 2,300,000    
Loans Payable [Member] | 2021 Term Loan A-1        
Debt Instrument [Line Items]        
Debt Issuance Costs, Net       300
Loans Payable [Member] | 2021 Term Loan A-2        
Debt Instrument [Line Items]        
Debt Issuance Costs, Net 200     400
Loans Payable [Member] | 2021 Term Loan A-3        
Debt Instrument [Line Items]        
Debt Issuance Costs, Net $ 1,300     $ 1,600
Loans Payable [Member] | 2021 Prudential Notes        
Debt Instrument [Line Items]        
Maximum borrowing capacity   $ 125,000    
Loans Payable [Member] | July 2021 Term Loan        
Debt Instrument [Line Items]        
Maximum borrowing capacity     $ 1,200,000  
[1] Refer to Note 23 for information regarding the fair value of debt.
[2] The carrying amounts of the 2021 Term Loan A-2 and 2021 Term Loan A-3 are net of $0.2 million and $1.3 million in deferred loan costs as of December 31, 2022, respectively. The carrying amounts of the 2021 Term Loan A-1, 2021 Term Loan A-2, and 2021 Term Loan A-3 are net of $0.3 million, $0.4 million, and $1.6 million in deferred loan costs as of December 31, 2021, respectively.
[3] The interest rate margin for the 2021 Term Loan and 2021 Revolver is based on the Company's consolidated leverage ratio. As of December 31, 2022, interest accrued at 4.757% on the 2021 Term Loan A-2, 4.882% on the 2021 Term Loan A-3, and 5.074% on the 2021 Revolver.
[4] The commitment fee for the unused portion of the 2021 Revolver is based on the Company's consolidated leverage ratio, and ranges from 0.07% to 0.20%. As of December 31, 2022, commitment fees on the unused portion of the 2021 Revolver accrued at 0.100% and outstanding letter of credit fees accrued at 1.000%.
[5] The Company also had outstanding letters of credit of $15.8 million and $64.0 million under the 2021 Revolver, primarily related to workers' compensation and self-insurance liabilities, at December 31, 2022 and December 31, 2021, respectively. As of December 31, 2022, the Company also had outstanding letters of credit of $173.1 million under a separate bilateral agreement which do not impact the availability of the 2021 Revolver.