Quarterly report pursuant to Section 13 or 15(d)

Debt

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Debt
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt Debt
Long-term debt consisted of the following (in thousands):
June 30, December 31,
2024 2023
Bank credit facility - term loan $ 292,500  $ 300,000 
Bank credit facility - revolving facility 174,000  133,000 
Principal amount of long-term debt 466,500  433,000 
Less: debt issuance costs
 (2,992) (3,656)
Total long-term debt 463,508  429,344 
Less: current portion
 (30,000) (22,500)
Long-term debt, less current portion $ 433,508  $ 406,844 

Borrowings under our term loan and revolving facility mature in October 2026. As of June 30, 2024, the interest rate on our outstanding term loan borrowings and weighted average interest rate on our aggregate outstanding revolving facility was 8.18% and 8.20%, respectively. We had letters of credit outstanding of $0.8 million as of June 30, 2024 and December 31, 2023.

Future required term loan and revolving facility payments as of June 30, 2024 are as follows (in thousands):

Year Ending Term Loan Revolving Facility Total
Remainder of 2024 $ 15,000  $ —  $ 15,000 
2025 30,000  —  30,000 
2026 247,500  174,000  421,500 
     Total $ 292,500  $ 174,000  $ 466,500 
We were in compliance with required ratios and other terms and conditions under our credit agreement as of June 30, 2024.