Debt (Tables)

12 Months Ended

Dec. 31, 2021

The Company's debt consisted of the following:


	December 31, 2021								December 31, 2020
(in millions)	Principal balance		Unamortized original issue discount		Unamortized deferred financing costs		Carrying value		Principal balance		Unamortized original issue discount		Unamortized deferred financing costs		Carrying value
New Senior Secured Term Loan	$	480.1	$	(14.1)	$	(2.7)	$	463.3	n/a		n/a		n/a		n/a
Acquisition Term Loan	n/a		n/a		n/a		n/a		1,075.2		(54.0)		(2.4)		1,018.8
2026 Senior Notes	400.0		(13.7)		(10.7)		375.6		n/a		n/a		n/a		n/a
2027 Notes (a)	485.3		(93.2)		(2.0)		390.1		497.1		(106.3)		(2.3)		578.1
2024 Notes	3.3		—		—		3.3		3.3		—		—		3.3
Total debt	$	1,368.7	$	(121.0)	$	(15.4)	$	1,232.3	$	1,575.6	$	(160.3)	$	(4.7)	$	1,600.2
Less: Current portion of long-term debt	$	(69.5)	$	—	$	—	$	(69.5)	$	(128.4)	$	—	$	—	$	(128.4)
Non-current portion of long-term debt	$	1,299.2	$	(121.0)	$	(15.4)	$	1,162.8	$	1,447.2	$	(160.3)	$	(4.7)	$	1,471.8

(a) For the year ended December 31, 2020, the carrying value of the 2027 Notes also included the value of the embedded derivative conversion feature of $189.6 million.

Summary of fair value assumptions

The assumptions used to determine the fair value as of February 26, 2021 and December 31, 2020 were:


	February 26, 2021			December 31, 2020
Annual volatility	70.0		%	70.0		%
Discount rate	12.2		%	9.3		%
Stock price	$	4.95		$	3.36

Summary of future debt obligation payments

Future debt obligation payments for the year ended December 31, are as follows:


In thousands	Principal payments
2022	$	69,500
2023	51,600
2024	54,900
2025	51,600
2026	655,805
Thereafter	485,286
Total debt obligations	$	1,368,691