Subsequent Events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The Company has evaluated all events that occurred subsequent to December 31, 2022 through the date on which these consolidated financial statements were issued to determine whether any of these events required disclosure in the financial statements.

Common Stock Dividend

On February 21, 2023, the Company's Board of Directors declared a cash dividend of $0.20 per share for the first quarter of 2023. The dividend will be paid on March 30, 2023 to stockholders of record on March 15, 2023.

Revolver Activity

In January 2023, the Company repaid $63.0 million under the 2026 Revolver.

LIBOR to SOFR Transition

On January 27, 2023, the Company executed an amendment to the Prior Credit Agreement that replaced the interest rate benchmark from LIBOR to SOFR. Additionally, on January 30, 2023 and effective through the maturity date of December 31, 2024, the Company converted its four existing LIBOR swap agreements associated with the 2024 Term Loan into four new SOFR swaps that convert the SOFR variable rate to a fixed rate of 0.12%.