Debt |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | Debt There have been no material changes in the Company’s long-term debt since December 31, 2023, except as disclosed below. Refer to Note 16. Debt in the Company’s 2023 Annual Report on Form 10-K for additional information and definitions of terms used in this note. Term Loans The following is a summary of the Company’s indebtedness under its term loans (in thousands):
Revolving Credit Facilities During the nine months ended September 30, 2024, the Company (i) borrowed $20.0 million and repaid $59.0 million under the Amended New Revolving Credit Facility and (ii) borrowed and repaid $28.0 million under the Amended Rondo Revolving Credit Facility. As of September 30, 2024 and December 31, 2023, $140.0 million and $179.0 million, respectively, was outstanding on the Amended New Revolving Credit Facility. Note Payable - Related Party During the nine months ended September 30, 2024, the Company repaid principal of $44.2 million and interest of $10.0 million associated with the Sellers Notes from cash on hand. As of September 30, 2024, the Sellers Notes and accrued interest have been fully repaid. The Sellers Notes, net of unamortized discount, were included in notes payable-related party and accrued interest was included in related party payables-short term and long-term as of December 31, 2023. Refer to Note 19. Related Party Transactions for accrued interest on the Sellers Notes.
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