Long-Term Obligations (Tables)

3 Months Ended

Sep. 30, 2022

LOng-Term Obligations Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying values of our long-term debt consist of the following (in thousands):

	Effective Interest Rate		As of September 30, 2022
Senior Secured Credit Facilities:
Term Loan A — principal	3.39	%	$	834,000
Term Loan B — principal	3.98	%	845,750
Revolving Credit Facility — principal	—	%	—
Less unamortized debt issuance costs(1)			(25,526)
Total carrying value of long-term debt			1,654,224
Less current portion of long-term debt			24,375
Long-term debt, net			$	1,629,849

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(1)    Comprised of $13.4 million and $12.2 million relating to the Term Loan A and the Term Loan B, respectively.

Schedule of Maturities of Long-term Debt

As of September 30, 2022, the aggregate amount of principal repayments of our long-term debt (including any current portion) for each of the next five years is approximately (in thousands):

Remainder of 2022	$	2,125
2023	29,750
2024	51,000
2025	51,000
2026	72,250
2027	672,500
Thereafter	801,125
Total	$	1,679,750

Interest expense on long term debt

The following table presents the total interest expense related to our long-term debt (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Contractual interest	$	19,228	$	—	$	41,868	$	—
Amortization of debt issuance costs	1,758		72		5,200		216
Commitment fee — Revolving Credit Facility	334		58		994		171
Total long-term debt-related interest expense	$	21,320	$	130	48,062		387

Applicable Margin Based on Leverage Ratio

Effective on the first Adjustment Date, as defined in the Credit Agreement, occurring subsequent to our quarter ending June 30, 2022, the applicable margin for the Term Loan A and borrowings under the Revolving Credit Facility will be determined by reference to the leverage ratio in effect from time to time as set forth in the following table:

Leverage Ratio	Applicable Margin for Term SOFR Loans	Applicable Margin for Base Rate Loans	Commitment Fee Rate
Greater than 4.00 to 1.0	2.25%	1.25%	0.35%
Less than or equal to 4.00 to 1.0 but greater than 3.00 to 1.0	2.00%	1.00%	0.30%
Less than or equal to 3.00 to 1.0 but greater than 2.50 to 1.0	1.75%	0.75%	0.25%
Less than or equal to 2.50 to 1.0 but greater than 2.00 to 1.0	1.50%	0.50%	0.20%
Less than or equal to 2.00 to 1.0	1.25%	0.25%	0.15%