Debt

6 Months Ended

Jun. 30, 2024

Note 8 - Debt

Debt included the following:


(In thousands)	As of June 30, 2024		As of December 31, 2023
Senior Notes	$	300,000	$	300,000
USD Term Loans	601,800		637,000
EUR Term Loans (1)	448,460		463,588
Less: issuance costs and discounts amortized to interest expense	(869)		(1,930)
Long-term debt – net	$	1,349,391	$	1,398,658

(1) The table above converted the EUR Term Loans to USD using currency exchange rates as of those dates.

The Company made voluntary prepayments of $32.6 million on its outstanding USD term loans during the quarter ended June 30, 2024. The prepayments were made using cash on hand and did not result in any prepayment penalties. The prepayments reduced the principal balance and interest expense on the term loans.

The Company was compliant with all debt covenants and obligations at June 30, 2024 and December 31, 2023.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details