Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 79

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 79
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 if recognized, would affect the effective tax rate.We accrued interest and penalties of $42 and $175 as of December 31, 2024 and 2023, respectively, in income tax expense.

9. DebtDebt consisted of the following as of the periods presented:

        As of

        Maturity
         
        Stated Interest Rate
         
        Effective Interest Rate
         
        December 31, 2024

        December 31, 2023

        Credit agreement

        First lien term loan
         
        March 2031
         
        7.09%
         
        8.15%
         
        $
        920,381

        $
        901,201

        Unamortized discount and debt issuance costs

        (4,367
        )

        (3,777
        )

        Current maturities of debt

        (6,920
        )

        —

        Total long-term portion of debt, net

        $
        909,094

        $
        897,424

51 

As of December 31, 2024, annual maturities of debt were as follows:

        Fiscal Year Ending:

        2025
         
        $
        6,920

        2026

        9,227

        2027

        9,227

        2028

        9,227

        2029

        9,227

        Thereafter

        876,553

        Total maturities of debt

        920,381

      As of December 31, 2024 and 2023, unamortized debt issuance costs was $6,304 and $4,030, respectively, and accumulated amortization of debt issuance costs was $4,018 and $6,145, respectively.For the years ended December 31, 2024, 2023 and 2022, the amortization of debt issuance costs in interest expense, net in the consolidated statements of operations was approximately $1,256, $1,698 and $1,698, respectively.Amended and Restated First Lien Credit AgreementOn August 21, 2014, we entered into a Credit Agreement (“Credit Agreement”) which was originally comprised of a term loan (“First Lien Term Loan”) and a revolving commitment (“Revolving Commitment”). The Credit Agreement was collateralized by substantially all personal property (