Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 81

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 81
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2023, the available borrowing capacity under the Revolving Commitment was $299,791 and $149,193, respectively.In addition, an unused commitment fee based on our First Lien Net Leverage Ratio is payable on the average of the unused borrowing capacity under the Revolving Commitment. As of December 31, 2024 and 2023, the unused commitment fee was 0.25%.

52 

Standby Letters of CreditAs of December 31, 2024, we have a letter of credit sublimit of $90,000 under the Revolving Commitment, provided that the total utilization of revolving commitments under the Revolving Commitment does not exceed $300,000. Any letter of credit issued under the Amended and Restated Credit Agreement has an expiration date which is the earlier of (i) no later than 12 months from the date of issuance or (ii) five business days prior to the maturity date of the Revolving Commitment, as amended under Amendment No. 2 to Amended and Restated First Lien Credit Agreement. Letters of credit under the Revolving Commitment reduce the maximum available borrowing capacity under the Revolving Commitment. As of December 31, 2024 and 2023, the amounts associated with outstanding letters of credit were $209 and $807, respectively.Credit AgreementWe were in compliance with all covenants related to our long-term debt as of December 31, 2024.

10. Fair Value MeasurementsThe following table presents assets and liabilities which are measured at fair value on a recurring basis as of December 31, 2024:

        Fair Value Measurements

        Total

        Level 1

        Level 2

        Level 3

        Assets:

        Deferred compensation plan
         
        $
        6,487

        $
        6,487

        $
        —

        $
        —

        Liabilities:

        Deferred compensation plan
         
        $
        4,425

        $
        4,425

        $
        —

        $
        —

        Contingent consideration
         
        $
        4,328

        $
        —

        $
        —

        $
        4,328

      The following table presents financial assets and liabilities which are measured at fair value on a recurring basis as of December 31, 2023:

        Fair Value Measurements

        Total

        Level 1

        Level 2

        Level 3

        Assets:

        Deferred