Quarterly report [Sections 13 or 15(d)]

Indebtedness

v3.26.1
Indebtedness
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Indebtedness Indebtedness
Long-term debt consisted of the following as of March 31, 2026 and December 31, 2025:

March 31, 2026 December 31, 2025
Term Loan, expiring 2030 $ 1,045,000  $ 1,045,000 
Senior Secured Notes, maturing 2031 725,000  725,000 
Debt issuance discount (45,721) (47,467)
Debt issuance costs (34,026) (35,285)
Total long-term debt $ 1,690,253  $ 1,687,248 

The Term Loan is part of our Credit Agreement with Citibank, N.A., and includes a revolving credit facility. As of March 31, 2026, the revolving credit facility had $261 million of borrowings available and no borrowings outstanding. As required by the Credit Agreement, the Company was in compliance with all covenants as of March 31, 2026.