Quarterly report [Sections 13 or 15(d)]

Indebtedness

v3.25.3
Indebtedness
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Indebtedness Indebtedness
Long-term debt consisted of the following as of September 30, 2025 and December 31, 2024:

September 30, 2025 December 31, 2024
Term Loan, expiring 2030 $ 1,045,000  $ 1,045,000 
Senior Secured Notes, maturing 2031 725,000  725,000 
Debt issuance discount (49,171) (54,067)
Debt issuance costs (36,510) (40,003)
Total long-term debt $ 1,684,319  $ 1,675,930 

The Term Loan is part of our Credit Agreement that includes a revolving credit facility. At the end of September 30, 2025, the revolving credit facility has $273 million of borrowings available and no borrowings outstanding. As required by the Credit Agreement, the Company is in compliance with all covenants at the end of September 30, 2025.