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Debt and Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Summary of Total Debt
Total debt was as follows: 
 December 31,
(In thousands)20212020
2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin(1)(2))
$170,875 $188,788 
2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin(1)(3))
293,660 306,503 
Notes Payable due on January 1, 2022(1)
758 1,443 
Total debt$465,293 $496,734 
(1)Net of unaccreted discount and unamortized debt issue costs, as applicable.
(2)Applicable margin of 1.75% at December 31, 2021 and December 31, 2020.
(3)Subject to a minimum rate (“LIBOR floor”) of 0.00% plus applicable margin of 3.50% at December 31, 2021 and December 31, 2020.
Summary of Contractual Principal Payments The following table presents contractual principal payments for the next years:
(In thousands) 
2022$19,750 
2023158,364 
2024289,344 
Thereafter— 
Schedule of Interest Rate Swap Transaction
As of December 31, 2021, the Company has an interest rate swap agreement, entered into in December 2018, which converts a portion of the interest rate payments on the Company's 2024 Term B Loan from variable to fixed:
 
Swap AgreementEffective date  Maturity Date  Notional Amount  Variable Rate  Fixed Rate
2018 SwapApril 2020  November 2024  $250 million  1-month LIBOR  2.89%