Summary of Debt |
Debt consisted of the following (in thousands):
|
|
|
|
|
|
|
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|
|
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December 31, 2022 |
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|
December 31, 2021 |
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Senior Credit Facility: |
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|
|
|
|
|
Term loan |
|
$ |
— |
|
|
$ |
762,000 |
|
Unamortized debt issuance costs on term loan |
|
|
— |
|
|
|
(2,733 |
) |
Unamortized discount on term loan |
|
|
— |
|
|
|
(1,152 |
) |
Revolver |
|
|
— |
|
|
|
784,895 |
|
Total Senior Credit Facility |
|
|
- |
|
|
|
1,543,010 |
|
Exchange Credit Agreement [*] |
|
|
|
|
|
|
Tranche 1 Loans |
|
|
846,445 |
|
|
|
- |
|
Unamortized premium on tranche 1 loans |
|
|
25,345 |
|
|
|
- |
|
Unamortized debt issuance costs on tranche 1 loans |
|
|
(22,575 |
) |
|
|
- |
|
Tranche 2 Loans |
|
|
236,794 |
|
|
|
- |
|
Unamortized discount on tranche 2 loans |
|
|
(2,922 |
) |
|
|
- |
|
Unamortized debt issuance costs on tranche 2 loans |
|
|
(6,310 |
) |
|
|
- |
|
Revolver |
|
|
30,000 |
|
|
|
- |
|
Total Exchange Credit Agreement |
|
|
1,106,777 |
|
|
|
- |
|
10.500% Public Second Lien Notes due 2028 |
|
|
|
|
|
|
Notes Due in 2028 |
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|
286,521 |
|
|
|
- |
|
Unamortized discount |
|
|
(15,457 |
) |
|
|
- |
|
Unamortized debt issuance costs |
|
|
(7,811 |
) |
|
|
- |
|
Total 10.500% Public Second Lien Notes due 2028 |
|
|
263,253 |
|
|
|
- |
|
9.500% Private Second Lien Notes due 2028 |
|
|
|
|
|
|
Notes Due in 2028 |
|
|
239,142 |
|
|
|
- |
|
Unamortized discount |
|
|
(22,524 |
) |
|
|
- |
|
Unamortized debt issuance costs |
|
|
(6,551 |
) |
|
|
- |
|
Total 9.500% Private Second Lien Notes due 2028 |
|
|
210,067 |
|
|
|
- |
|
6.50% Exchangeable Senior Notes: |
|
|
|
|
|
|
Notes Due in 2026 |
|
|
230,000 |
|
|
|
230,000 |
|
Unamortized debt issuance costs |
|
|
(6,489 |
) |
|
|
(8,246 |
) |
Total 6.50% Exchangeable Senior Notes Due in 2026 |
|
|
223,511 |
|
|
|
221,754 |
|
6.00% Senior Notes: |
|
|
|
|
|
|
Notes Due in 2026 |
|
|
110,858 |
|
|
|
350,000 |
|
Unamortized debt issuance costs |
|
|
(776 |
) |
|
|
(3,099 |
) |
Total 6.00% Senior Notes Due in 2026 |
|
|
110,082 |
|
|
|
346,901 |
|
5.875% Senior Notes: |
|
|
|
|
|
|
Notes Due in 2024 |
|
|
23,253 |
|
|
|
225,293 |
|
Unamortized debt issuance costs |
|
|
(96 |
) |
|
|
(1,410 |
) |
Total 5.875% Senior Notes Due in 2024 |
|
|
23,157 |
|
|
|
223,883 |
|
5.125% Senior Notes: |
|
|
|
|
|
|
Notes Due in 2023 |
|
|
- |
|
|
|
259,275 |
|
Unamortized debt issuance costs |
|
|
- |
|
|
|
(1,221 |
) |
Total 5.125% Senior Notes Due in 2023 |
|
|
- |
|
|
|
258,054 |
|
Non-Recourse Debt: |
|
|
|
|
|
|
Non-Recourse Debt |
|
|
- |
|
|
|
310,108 |
|
Unamortized debt issuance costs on non-recourse debt |
|
|
- |
|
|
|
(4,556 |
) |
Total Non-Recourse Debt |
|
|
- |
|
|
|
305,552 |
|
Finance Lease Obligations |
|
|
1,977 |
|
|
|
3,843 |
|
Other debt |
|
|
40,323 |
|
|
|
41,363 |
|
Total debt |
|
|
1,979,147 |
|
|
|
2,944,360 |
|
Current portion of finance lease obligations, long-term debt and non-recourse debt |
|
|
(44,722 |
) |
|
|
(18,568 |
) |
Finance Lease Obligations, long-term portion |
|
|
(1,280 |
) |
|
|
(1,977 |
) |
Non-Recourse Debt, long-term portion |
|
|
- |
|
|
|
(297,856 |
) |
Long-Term Debt |
|
$ |
1,933,145 |
|
|
$ |
2,625,959 |
|
|
Debt Repayment Schedules Under Capital Lease Obligations, Long-Term Debt and Non-Recourse Debt |
Debt repayment schedules under Finance Lease Obligations, Long-Term Debt, Term Loans and the Exchange Credit Agreement are as follows:
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|
Fiscal Year |
|
Finance Leases |
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|
Long-Term Debt |
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|
Revolver |
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Term Loans |
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Total Repayment |
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|
|
(In thousands) |
|
2023 |
|
$ |
759 |
|
|
$ |
1,166 |
|
|
$ |
— |
|
|
$ |
42,860 |
|
|
$ |
44,785 |
|
2024 |
|
|
759 |
|
|
|
24,461 |
|
|
|
30,000 |
|
|
|
42,860 |
|
|
|
98,080 |
|
2025 |
|
|
536 |
|
|
|
1,274 |
|
|
|
— |
|
|
|
42,860 |
|
|
|
44,670 |
|
2026 |
|
|
29 |
|
|
|
342,183 |
|
|
|
— |
|
|
|
42,860 |
|
|
|
385,072 |
|
2027 |
|
|
— |
|
|
|
1,383 |
|
|
|
— |
|
|
|
911,801 |
|
|
|
913,184 |
|
Thereafter |
|
|
— |
|
|
|
560,215 |
|
|
|
— |
|
|
|
— |
|
|
|
560,215 |
|
|
|
|
2,083 |
|
|
|
930,682 |
|
|
|
30,000 |
|
|
|
1,083,241 |
|
|
|
2,046,006 |
|
Interest imputed on finance leases |
|
|
(106 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(106 |
) |
Original issue (discount) premium |
|
|
— |
|
|
|
(37,981 |
) |
|
|
— |
|
|
|
22,423 |
|
|
|
(15,558 |
) |
Current portion |
|
|
(697 |
) |
|
|
(1,166 |
) |
|
|
— |
|
|
|
(42,860 |
) |
|
|
(44,723 |
) |
Non-current portion |
|
$ |
1,280 |
|
|
$ |
891,535 |
|
|
$ |
30,000 |
|
|
$ |
1,062,804 |
|
|
$ |
1,985,619 |
|
|