Quarterly report pursuant to Section 13 or 15(d)

Long-term Debt

Long-term Debt
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Long-term Debt
13. Long-term Debt:
The summary of long-term debt is as follows:
September 30,
December 31,
Senior Secured Term Loan Facility due June 2028 $ 888,750  $ 895,500 
ABL Facility —  — 
Total debt 888,750  895,500 
Original issue discount (7,798) (8,762)
Deferred financing costs (4,348) (4,899)
Total debt, net of original issue discount and deferred financing costs 876,604  881,839 
Less: current portion (9,000) (9,000)
Total long-term debt, excluding current portion $ 867,604  $ 872,839 
The fair value of a financial instrument is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. As of September 30, 2022 and December 31, 2021, the fair value of the senior secured term loan facility was $844,312 and $894,381, respectively. The fair value is classified as Level 2 based upon the fair value hierarchy (see Note 5 to these condensed consolidated financial statements for further information on fair value measurements).