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LONG-TERM DEBT (Tables)
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments The tables below present the related carrying values as of June 30, 2022 and December 31, 2021 (in thousands):
As of June 30, 2022
Principal AmountUnamortized Deferred Financing CostsNet Amount
5.0% Senior Notes
$400,000 $7,492 $392,508 
As of December 31, 2021
Principal AmountUnamortized Deferred Financing CostsNet Amount
7.5% Senior Notes
$100,000 $— $100,000 
5.0% Senior Notes
$400,000 $8,290 $391,710 
The following table presents the outstanding balance, total amount of letters of credit outstanding, and available borrowing capacity under the Credit Facility as of the dates indicated (in thousands):
August 3, 2022June 30, 2022December 31, 2021
Revolving credit facility
$— $— $— 
Letters of credit12,393 12,393 21,656 
Available borrowing capacity987,607 987,607 778,344 
Total aggregate elected commitments
$1,000,000 $1,000,000 $800,000