v3.26.1
DEBT
6 Months Ended
Jun. 30, 2026
DEBT  
DEBT

8.          DEBT

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The Company’s debt is described in Note 8 to the Consolidated Financial Statements included in Part II, Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Total debt as of June 30, 2026 and December 31, 2025 consisted of the following:

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June 30, 

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December 31, 

(In millions)

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2026

  ​ ​ ​

2025

Private Placement Term Loans:

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3.37 %, payable through 2027

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$

17.2

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$

23.1

3.14 %, payable through 2031

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78.7

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85.8

Title XI Debt:

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1.22 %, payable through 2043

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138.5

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142.4

1.35 %, payable through 2044

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106.9

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109.9

Revolving credit facility, maturity date of July 23, 2030

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—

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—

Total Debt

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341.3

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361.2

Less: Current portion of debt

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(39.7)

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(39.7)

Total Long-term Debt

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301.6

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321.5

Less: Deferred loan fees

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(8.9)

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(9.4)

Total Long-term Debt, net of deferred loan fees

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$

292.7

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$

312.1

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Revolving Credit Facility: As of June 30, 2026, the Company had $544.2 million of remaining borrowing availability under its $550 million revolving credit facility. The Company used $5.8 million of the revolving credit facility for letters of credit outstanding as of June 30, 2026. Borrowings under the revolving credit facility are classified as long-term debt in the Company’s Condensed Consolidated Balance Sheets, as principal payments are not required until the maturity date.

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Debt Maturities: As of June 30, 2026, debt maturities are as follows:

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As of

Year (in millions)

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June 30, 2026

Remainder of 2026

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$

19.8

2027

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39.7

2028

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28.2

2029

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28.2

2030

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28.2

Thereafter

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197.2

Total Debt

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$

341.3

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