Debt and Credit Arrangements (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Borrowings

The following table represents the components of our borrowings:

	June 30, 2024		December 31, 2023
Senior secured and senior unsecured notes:
Principal amount, senior secured notes due 2030	$	1,460.0	$	1,460.0
Principal amount, senior unsecured notes due 2031	510.0		510.0
Unamortized discount	(25.2)		(26.9)
Unamortized debt issuance costs	(30.9)		(32.9)
Senior secured and senior unsecured notes, net of unamortized discount and debt issuance costs	1,913.9		1,910.2
Senior secured revolving credit facilities and term loans:
Term loans due March 2030	1,631.0		1,631.0
Senior secured revolving credit facility due April 2029	247.5		102.8
Unamortized discount	(33.6)		(35.8)
Unamortized debt issuance costs	(30.4)		(32.5)
Senior secured revolving credit facility and term loan, net of unamortized discount and debt issuance costs	1,814.5		1,665.5
Convertible notes due November 2024:
Principal amount	258.7		258.7
Unamortized debt issuance costs	(0.4)		(0.9)
Convertible notes due November 2024, net of unamortized debt issuance costs	258.3		257.8
Other debt facilities	2.1		1.4
Total debt, net of unamortized debt issuance costs	3,988.8		3,834.9
Less: current maturities (1)	259.8		258.5
Long-term debt	$	3,729.0	$	3,576.4

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(1)Our convertible notes due November 2024, net of unamortized debt issuance costs, are included in current maturities for both periods presented. Also included in current maturities for the current period is $1.4 of other debt facilities.

The following table summarizes the carrying values and fair values of our actively quoted debt instruments (1):

	June 30, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
Term loans due March 2030	$	1,567.0	$	1,640.2	$	1,562.7	$	1,631.0
Senior secured notes due 2030	1,422.9		1,510.5		1,420.2		1,533.0
Senior unsecured notes due 2031	491.0		553.0		490.0		555.9
Convertible notes due November 2024	258.3		639.4		257.8		605.4

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(1)The debt instruments noted above are actively quoted instruments and, accordingly, their fair values were determined using Level 1 inputs.