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DEBT (Tables)
 6 Months Ended
Jun. 30, 2023
Debt And Derivatives Disclosure [Abstract]  
Schedule of Debt
A summary of debt is as follows:
June 30,
2023		December 31,
2022
Senior Secured Credit Facility:
Term loan A facility ("Term Loan Facility") due December 2026; bearing interest at Term SOFR plus 1.135%
$350,000 $350,000 
Term loan A facility ("2023 Term Loan Facility") due December 2026; bearing interest at Term SOFR plus 2.385%
430,000 — 
Revolving credit facility ("Revolving Credit Facility") due December 2026; bearing interest at Term SOFR plus 1.135%
— 6,000 
Tax-Exempt Bonds:
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014 ("New York Bonds 2014R-1") due December 2044 - fixed rate interest period ending in 2029; bearing interest at 2.875%
25,000 25,000 
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014R-2 ("New York Bonds 2014R-2") due December 2044 - fixed rate interest period ending in 2026; bearing interest at 3.125%
15,000 15,000 
New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2020 ("New York Bonds 2020") due September 2050 - fixed rate interest period ending in 2025; bearing interest at 2.750%
40,000 40,000 
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-3 ("FAME Bonds 2005R-3") due January 2025 - fixed rate interest period ending in 2025; bearing interest at 5.25%
25,000 25,000 
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015R-1 ("FAME Bonds 2015R-1") due August 2035 - fixed rate interest period ending in 2025; bearing interest at 5.125%
15,000 15,000 
Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2015R-2 ("FAME Bonds 2015R-2") due August 2035 - fixed rate interest period ending in 2025; bearing interest at 4.375%
15,000 15,000 
Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013 ("Vermont Bonds 2013") due April 2036 - fixed rate interest period ending in 2028; bearing interest at 4.625%
16,000 16,000 
Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2022A-1 ("Vermont Bonds 2022A-1") due June 2052 - fixed rate interest period ending in 2027; bearing interest at 5.00%
35,000 35,000 
Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013 ("New Hampshire Bonds") due April 2029 - fixed rate interest period ending in 2029; bearing interest at 2.95%
11,000 11,000 
Other:
Finance leases maturing through December 2107; bearing interest at a weighted average of 3.7%
50,228 49,813 
Notes payable maturing through March 2025; bearing interest up to 8.1%
339 664 
Principal amount of debt 1,027,567 603,477 
Less—unamortized debt issuance costs (1)
11,476 9,494 
Debt less unamortized debt issuance costs1,016,091 593,983 
Less—current maturities of debt32,747 8,968 
$983,344 $585,015 
 
(1)A summary of unamortized debt issuance costs by debt instrument follows:
June 30,
2023		December 31,
2022
Revolving Credit Facility, Term Loan Facility and 2023 Term Loan Facility (collectively, the "Credit Facility")$7,087 $4,716 
New York Bonds 2014R-1832 866 
New York Bonds 2014R-2177 207 
New York Bonds 20201,016 1,106 
FAME Bonds 2005R-3134 176 
FAME Bonds 2015R-1309 344 
FAME Bonds 2015R-2156 193 
Vermont Bonds 2013351 378 
Vermont Bonds 2022A-11,079 1,144 
New Hampshire Bonds335 364 
$11,476 $9,494 
The Credit Facility shall bear interest, at our election, at Term SOFR, including a secured overnight financing rate adjustment of 10 basis points, or at a base rate, in each case plus or minus any sustainable rate adjustment of up to positive or negative 4.0 basis points per annum, plus an applicable interest rate margin based upon our consolidated net leverage ratio as follows:
Term SOFR LoansBase Rate Loans
Term Loan Facility
1.125% to 2.125%
0.125% to 1.125%
Revolving Credit Facility
1.125% to 2.125%
0.125% to 1.125%
2023 Term Loan Facility
1.625% to 2.625%
0.625% to 1.625%
Summary of Cash Flow Hedges A summary of the effect of cash flow hedges related to derivative instruments on the consolidated balance sheet follows:
Fair Value
Balance Sheet LocationJune 30,
2023		December 31,
2022
Interest rate swapsOther current assets$5,147 $4,345 
Interest rate swapsOther non-current assets6,763 7,461 
$11,910 $11,806 
Interest rate swapsOther long-term liabilities$18 $— 
Interest rate swapsAccumulated other comprehensive income, net of tax$11,892 $11,806 
Interest rate swaps - tax effectAccumulated other comprehensive income, net of tax(4,284)(4,264)
$7,608 $7,542 
Components of Interest Expense
The components of interest expense are as follows:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2023202220232022
Interest expense on long-term debt and finance leases $8,007 $5,189 $14,437 $9,823 
Amortization of debt issuance costs (1)
1,004 468 1,505 924 
Letter of credit fees98 116 194 230 
Less: capitalized interest(108)(75)(177)(75)
Total interest expense$9,001 $5,698 $15,959 $10,902 
(1)Includes interest expense related to short-term secured bridge financing entered into in connection with the GFL Acquisition of $395 and $395 during the three and six months ended June 30, 2023, respectively, and interest expense related to short-term unsecured financing entered into in connection with the Twin Bridges Acquisition, which is pending regulatory approval, of $101 and $101 during the three and six months ended June 30, 2023, respectively.