v3.25.4
DEBT AND FINANCING COSTS (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The following table summarizes the Company’s debt obligations:
December 31,
20252024
(In thousands)
A/R Facility(1)
$165,200 $140,200 
         Total current debt obligations
$165,200 $140,200 
Unsecured term loan(2)
$1,150,000 $1,000,000 
5.875% 2030 senior unsecured notes
1,000,000 1,000,000 
6.625% 2028 senior unsecured notes
1,050,000 800,000 
Revolving line of credit(3)
453,000 590,000 
        Total Long term debt
3,653,000 3,390,000 
Unamortized debt issuance costs, net(4)
(24,374)(26,174)
Unamortized debt premium and discount, net
(906)170 
        Total Long term debt, net
$3,627,720 $3,363,996 
(1)The effective interest rate was 4.65% and 5.55% as of December 31, 2025 and 2024, respectively.
(2)The effective interest rate of the Term Loan Credit Agreement was 5.44% as of December 31, 2025. The effective interest rate of the 2022 Term Loan Credit Agreement was 6.25% as of December 31, 2024.
(3)The weighted average effective interest rate of the Revolving Credit Agreement was 5.44% as of December 31, 2025. The weighted average effective interest rate of the 2022 Revolving Credit Agreement was 6.43% as of December 31, 2024.
(4)Excludes unamortized debt issuance cost related to the Revolving Credit Facility. Unamortized debt issuance cost associated with the Revolving Credit Facility was $8.5 million and $3.8 million as of December 31, 2025 and 2024, respectively. The unamortized debt issuance costs related to the revolving credit facilities were included in the “Deferred charges and other assets” of the Consolidated Balance Sheets.
Schedule of Financing Costs, Net
The table below presents the components of the Company’s financing costs, net of capitalized interest:
For the Year Ended December 31,
202520242023
(In thousands)
Capitalized interest$(14,514)$(8,321)$(18,270)
Debt issuance costs7,869 7,438 6,194 
Interest expense240,016 218,118 217,930 
        Total financing costs, net of capitalized interest$233,371 $217,235 $205,854 
Schedule of Future Maturities of Long Term Debt
The following table reflects future maturities of our outstanding debt for each of the next five years and thereafter. These amounts exclude approximately $25.3 million in unamortized deferred financing costs, debt premium and discount, net:
Fiscal YearAmount
(In thousands)
2026$165,200 
2027— 
20282,200,000 
2029— 
20301,453,000 
      Total$3,818,200