Unusual Items

9 Months Ended

Sep. 30, 2022

Unusual or Infrequent Items, or Both [Abstract]

Unusual Items

Unusual Items

The following table presents total unusual items in the unaudited condensed consolidated statements of operations:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(In millions)
Unusual items
Legal matters (component of other expense, net)	$	(0.4)	$	—	$	15.7	$	—
Proxy contest and related litigation costs (component of other expense, net)	16.3		—		28.3		—
Terminated merger costs (component of other expense, net)	—		7.2		2.5		20.8
Loss on debt	22.7		0.9		22.7		10.5
	$	38.6	$	8.1	$	69.2	$	31.3

In the nine months ended September 30, 2022, the Company incurred $15.7 million associated with legal matters. See Note 8(a) for additional information.

In the nine months ended September 30, 2022, the Company incurred $28.3 million of costs associated with the proxy contest and related litigation costs. See Note 8(a) for additional information.

In the nine months ended September 30, 2022 and 2021, the Company incurred terminated merger costs of $2.5 million and $20.8 million, respectively. See Note 1 for additional information.

As a result of the irrevocable cash settlement redemption notice issued on July 15, 2022 to holders of its outstanding 2¼% Notes, the Company was required to separate a derivative from the 2¼% Notes. The irrevocable cash conversion option became a forward sale contract which was not eligible for the “own stock” scope exception allowed under the accounting guidance and resulted in the Company recording a loss on debt of $22.6 million in the nine months ended September 30, 2022. See Note 7 for additional information.

In the nine months ended September 30, 2022, the Company recorded a loss on debt of $0.1 million related to an amendment to the Senior Credit Facility. See Note 7 for additional information.

In the nine months ended September 30, 2021, the Company settled $154.1 million of its 2¼% Notes as a result of receiving conversion notices from the holders of the 2¼% Notes. The principal amount of $154.1 million was settled in cash and the conversion premium was settled in 2.9 million common shares. The Company incurred a pre-tax charge of $10.5 million in the nine months ended September 30, 2021, associated with the settlement of the 2¼% Notes.