Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.21.2
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2021
Long-Term Debt  
Reconciliation of principal balance of outstanding debt

The following table reconciles the principal balances of our outstanding debt to our condensed consolidated balance sheets, in thousands:

As of

    

September 30, 

    

December 31, 

2021

    

2020

3.625% Senior Notes

$

400,000

$

5.625% Senior Notes

400,000

Term loan

292,500

288,750

Equipment notes

19,194

25,451

Unamortized debt issuance costs

(12,570)

(7,479)

Total debt, net of unamortized debt issuance costs

699,124

706,722

Less: current portion of long-term debt

23,557

23,326

Total long-term debt

$

675,567

$

683,396

Schedule of remaining principal payments of debt

The following table sets forth our remaining principal payments for our outstanding debt balances as of September 30, 2021, in thousands:

Payments Due by Period

2021

2022

2023

2024

2025

Thereafter

Total

3.625% Senior Notes

$

$

$

$

$

$

400,000

$

400,000

Term loan

    

3,750

15,000

20,625

22,500

28,125

202,500

    

292,500

Equipment notes

2,109

8,640

6,325

2,120

19,194

Total

$

5,859

$

23,640

$

26,950

$

24,620

$

28,125

$

602,500

$

711,694

Summary of key terms of Amended Credit Agreement

The following table outlines the key terms of our Amended Credit Agreement (dollars in thousands):

Senior secured term loan facility

$

300,000

Additional term loan and/or revolver capacity available under incremental facility (a)

$

300,000

Revolving Facility

$

450,000

Sublimit for issuance of letters of credit under Revolving Facility (b)

$

100,000

Sublimit for swingline loans under Revolving Facility (b)

$

35,000

Interest rate as of September 30, 2021

1.08

%

Scheduled maturity date

3/20/2026

(a) Additional borrowing capacity is available under the incremental facility, subject to certain terms and conditions (including existing or new lenders providing commitments in respect of such additional borrowing capacity).
(b) Use of the sublimits for the issuance of letters of credit and swingline loans reduces the availability under the Revolving Facility.

Schedule of availability under the Revolving Facility

The following table summarizes our availability under the Revolving Facility, in thousands:

As of

September 30, 

    

December 31, 

    

2021

    

2020

Revolving Facility

$

450,000

$

450,000

Less: standby letters of credit

(68,111)

(60,382)

Availability under Revolving Facility

$

381,889

$

389,618

Schedule of the key financial covenants

As of September 30, 2021

Maximum Net Leverage Ratio

3.50:1.00

Minimum Interest Coverage Ratio

3.00:1.00

Compliance as of period end

In Compliance