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Debt (Tables)
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt

(in thousands)

 

September 30, 2022

 

 

December 31, 2021

 

 

Effective Interest Rate as of September 30, 2022

 

Term Loans

 

 

 

 

 

 

 

 

 

Due July 2026, 4.54% interest rate, resets October 6, 2022

 

$

642,239

 

 

$

646,239

 

 

 

4.94

%

Due December 2028, 5.38% interest rate, reset September 30, 2022

 

 

375,000

 

 

 

505,000

 

 

 

5.71

%

Term loan principal outstanding

 

 

1,017,239

 

 

 

1,151,239

 

 

 

 

Unamortized debt issuance costs

 

 

(12,113

)

 

 

(16,436

)

 

 

 

Unamortized debt discount

 

 

(5,283

)

 

 

(6,879

)

 

 

 

Long-term debt, net

 

$

999,843

 

 

$

1,127,924

 

 

 

 

Schedule of Components of Interest Expense and Other Financing Costs

The following table presents the components of interest expense and other financing costs on the unaudited Condensed Consolidated Statements of Operations for the periods ended September 30, 2022 and 2021:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

(in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Interest expense

 

$

11,717

 

 

$

4,002

 

 

$

27,465

 

 

$

13,279

 

Amortization of debt issuance costs

 

 

784

 

 

 

554

 

 

 

2,434

 

 

 

1,801

 

Amortization of debt discount

 

 

314

 

 

 

257

 

 

 

960

 

 

 

854

 

Interest rate swap (income) expense

 

 

(1,459

)

 

 

947

 

 

 

(558

)

 

 

2,639

 

Other

 

 

123

 

 

 

93

 

 

 

336

 

 

 

280

 

Total

 

$

11,479

 

 

$

5,853

 

 

$

30,637

 

 

$

18,853