Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Debt as of December 31, consisted of the following:

	2022			2021
Term loan facility	$	166,250		$	175,000
Revolving line of credit		—			—
Less deferred debt issuance costs		(1,725	)		(2,244	)
Total debt		164,525			172,756
Less current portion of long-term debt		(12,031	)		(10,938	)
Long-term debt, less current portion	$	152,494		$	161,818

Summary of Term Loan Amortization

The 2021 Credit Facility term loan must be repaid in quarterly installments and shall amortize at the following future quarterly rates:

Date	Quarterly Installment Rate
March 31, 2023	1.25%
June 30, 2023	1.25%
September 30, 2023	1.25%
December 31, 2023	1.88%
March 31, 2024	1.88%
June 30, 2024	1.88%
September 30, 2024	1.88%
December 31, 2024	1.88%
March 31, 2025	1.88%
June 30, 2025	1.88%
September 30, 2025	1.88%
December 31, 2025	2.50%
March 31, 2026	2.50%
April 27, 2026	Remaining balance

Summary of 2021 Credit Facility Interest Rate Subject to Leverage Ratio and LIBOR

The 2021 Credit Facility term loan and the revolver bear interest subject to the Company’s leverage ratio and LIBOR as follows:

Pricing Tier	Consolidated Leverage  Ratio	Senior Credit Facilities LIBOR			Senior Credit Facilities Base Rate			Commitment Fee			Letter of Credit Fee
1	≥ 3.75x to 1.0		2.50	%		1.50	%		0.25	%		2.50	%
2	<3.75x to 1.0 but ≥ 3.25 to 1.0		2.25			1.25			0.23			2.25
3	<3.25x to 1.0 but ≥ 2.50 to 1.0		2.00			1.00			0.20			2.00
4	<2.50x to 1.0 but ≥ 1.75 to 1.0		1.75			0.75			0.15			1.75
5	<1.75x to 1.0		1.50			0.50			0.15			1.50

Schedule of Applicable Percentages

The applicable margin means a percentage per annum determined in accordance with the following table:

Pricing Tier	Consolidated Leverage Ratio	Commitment Fee			Eurodollar Rate Loans and LIBOR Letter of Credit Fee			Daily Floating Rate Loans			Rate Loans
1	> 3.75x to 1.0		0.50	%		4.00	%		4.00	%		3.00	%
2	≤ 3.75x to 1.0 but >3.00 to 1.0		0.50			3.50			3.50			2.50
3	≤ 3.00x to 1.0 but >2.25 to 1.0		0.40			3.00			3.00			2.00
4	≤ 2.25x to 1.0		0.30			2.50			2.50			1.50

Schedule of Aggregate Annual Maturities of Long-Term Debt

The following is a schedule of the aggregate annual maturities of long-term debt presented on the consolidated statement of financial position, based on the terms of the 2021 Credit Facility:

2023	$	12,031
2024		13,125
2025		14,219
2026		126,875
2027		—
Total	$	166,250