Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:

	September 30,			December 31,
	2023			2022
Term loan facility	$	157,500		$	166,250
Revolving line of credit		—			—
Aircraft loan		10,600			—
Less deferred debt issuance costs		(1,367	)		(1,725	)
Total debt		166,733			164,525
Less current portion of long-term debt		(14,177	)		(12,031	)
Long-term debt, less current portion	$	152,556		$	152,494

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
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 SOFR

The 2021 Credit Facility term loan and the revolving line of credit bear interest subject to the applicable spread based on Company’s leverage ratio and SOFR plus 0.10% as follows:

Pricing Tier	Consolidated Leverage Ratio	Senior Credit Facilities SOFR Spread			Senior Credit Facilities Base Rate Spread			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 Aggregate Annual Maturities of Long-Term Debt

The following is a schedule of the aggregate annual maturities of long-term debt presented on the unaudited condensed consolidated statement of financial position, gross of deferred debt issuance cost of $1.4 million, based on the terms of the 2021 Credit Facility and the Aircraft Loan:

September 30,	2021 Credit Facility		Aircraft Loan		Total
2024	$	13,125	$	1,052	$	14,177
2025		13,125		1,129		14,254
2026		131,250		1,209		132,459
2027		—		1,295		1,295
2028		—		5,915		5,915
Total	$	157,500	$	10,600	$	168,100