Debt

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Debt

DEBT

A summary of debt is as follows (in millions):

		September 30, 2024				December 31, 2023
	Maturity	Current		Long-Term		Current		Long-Term
8.25% Notes:	Feb. 2027
Principal		$	—	$	74.3	$	—	$	74.3
Interest		6.1		9.2		6.1		15.3
Total		$	6.1	$	83.5	$	6.1	$	89.6

Interest on the Company’s 8.25% Notes is payable semi-annually in arrears as of February 28 and August 31 based on a 360-day year consisting of twelve 30-day months. The 8.25% Notes were issued in connection with a troubled debt restructuring; therefore, all future interest payment obligations on the 8.25% Notes are included in the carrying value of the 8.25% Notes. As a result, interest payments are reported as a reduction in the carrying value of the 8.25% Notes and not as interest expense. As of September 30, 2024, and December 31, 2023, $6.1 million of interest was recorded as current and classified as Current Debt in the Consolidated Balance Sheets.