| Summary of Components of Interest Expense |
The following details the components of interest expense in each of the years ended December 31, 2024, 2023 and 2022: | | | | | | | | | | | | | | | | | | | Year ended December 31, | | (in thousands) | 2024 | | 2023 | | 2022 | | (Restated) | | (Restated) | | (Restated) | | Interest on credit facilities | $ | 38,985 | | | $ | 37,269 | | | $ | 13,842 | | | Interest on Senior Notes | 67,500 | | | 67,500 | | | 67,500 | | | Unused fee on Revolving Credit Facility | 1,840 | | | 1,998 | | | 1,913 | | | | | | | | | | | | | | Other interest expense (1) | 16,522 | | | 5,076 | | | 2,053 | | | Interest income | (2,045) | | | (1,951) | | | (49) | | | Interest expense, net | $ | 122,802 | | | $ | 109,892 | | | $ | 85,259 | |
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| Schedule of Long-term Debt Instruments |
The following table provides the Company’s outstanding long-term debt and effective interest rates at December 31, 2024, December 31, 2023 and December 31, 2022 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | | | | | | | | Effective Interest Rate | | Amount | | Effective Interest Rate | | Amount | | Effective Interest Rate | | Amount | | 2029 Senior Notes | 5.25% | | $ | 1,000,000 | | | 5.25% | | $ | 1,000,000 | | | 5.25% | | $ | 1,000,000 | | | 2032 Senior Notes | 5.00% | | 300,000 | | | 5.00% | | 300,000 | | | 5.00% | | 300,000 | | | 2022 Term Loan | 7.60% | | 375,000 | | | 7.50% | | 385,000 | | | 5.20% | | 395,000 | | | 2022 Revolving Credit Facility | 7.62% | | 110,000 | | | | | — | | | 5.98% | | 155,000 | | | Unamortized premiums and debt issuance costs | | | (10,710) | | | | | (13,121) | | | | | (15,532) | | | Total debt | | | $ | 1,774,290 | | | | | $ | 1,671,879 | | | | | $ | 1,834,468 | | | Less: Current portion, term loan facilities | | | (1,774,290) | | | | | (1,671,879) | | | | | (10,000) | | | Long-term debt | | | $ | — | | | | | $ | — | | | | | $ | 1,824,468 | |
The following table summarizes debt issuance costs at December 31, 2024, December 31, 2023 and December 31, 2022, and the balance sheet classification in each of the periods presents (in thousands): | | | | | | | | | | | | | | | | | | | December 31, | | 2024 | | 2023 | | 2022 | | Deferred debt issuance costs | $ | 32,526 | | | $ | 32,526 | | | $ | 32,526 | | | Accumulated amortization | (17,797) | | | (13,779) | | | (9,760) | | | Deferred debt issuance costs, net | $ | 14,729 | | | $ | 18,747 | | | $ | 22,766 | | | | | | | | | Balance sheet classification: | | | | | | | Other noncurrent assets | $ | 4,019 | | | $ | 5,626 | | | $ | 7,234 | | | Long-term debt | 10,710 | | | 13,121 | | | 15,532 | | | $ | 14,729 | | | $ | 18,747 | | | $ | 22,766 | |
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