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Debt | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Debt | Note 6—Debt At March 31, 2024 and December 31, 2023, debt consisted of the following (in millions):
|  | March 31, |  |  | December 31, |  |
|  | 2024 |  |  | 2023 |  |
Senior secured credit facilities, weighted-average interest rate of 7.32% and 7.35%, respectively |  | $ | 4,675.2 |  |  | $ | 4,755.1 |  |
5.5% senior notes due 2027 |  |  | 2,000.0 |  |  |  | 2,000.0 |  |
Unamortized original issue discount and debt issuance costs |  |  | (30.9 | ) |  |  | (35.1 | ) |
|  |  | 6,644.3 |  |  |  | 6,720.0 |  |
Less: current portion of long-term debt |  |  | 50.8 |  |  |  | 51.5 |  |
Long-term debt |  | $ | 6,593.5 |  |  | $ | 6,668.5 |  |
The table below provides a summary of the key terms of our Senior Secured Credit Facilities and Senior Notes:
|  | Amount Outstanding at March 31, 2024 |  |  | Maturity |  | Scheduled Quarterly
|  | (in millions) |  |  | Date |  | Payments Required
Senior Secured Credit Facilities |  |  |  |  |  |  |
Term Loan B-3 |  | $ | 994.4 |  |  | April 16, 2025 |  | 0.25%
Term Loan B-4 |  |  | 938.9 |  |  | April 16, 2025 |  | 0.25%
Term Loan B-5 |  |  | 1,582.0 |  |  | April 16, 2025 |  | 0.25%
Term Loan B-6 |  |  | 394.0 |  |  | March 22, 2029 |  | 0.25%
Term Loan B-7 |  |  | 765.9 |  |  | March 22, 2029 |  | 0.25%
Revolving Credit Facility |  |  | — |  |  | December 28, 2027 |  | None
Senior Notes |  |  | 2,000.0 |  |  | September 30, 2027 |  | None
We intend to refinance the $3,515.3 million Term Loans B-3, B-4 and B-5, which are due April 16, 2025, in the near term. However, there can be no assurance that we will be able to obtain such financing on acceptable terms, or at all. Fair Value of Debt The carrying amounts and fair values of financial instruments are as follows (in millions):
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | Carrying |  |  | Fair |  |  | Carrying |  |  | Fair |
|  | Amount |  |  | Value |  |  | Amount |  |  | Value |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Senior secured credit facilities |  | $ | 4,646.9 |  |  | $ | 4,688.4 |  |  | $ | 4,722.7 |  |  | $ | 4,774.4 |
5.5% senior notes due 2027 |  |  | 1,997.4 |  |  |  | 1,958.9 |  |  |  | 1,997.3 |  |  |  | 1,974.0 |
The above fair values, which are Level 2 liabilities, were computed based on comparable quoted market prices. The fair values of cash, accounts receivable, net, short-term borrowings, and accounts payable approximate the carrying amounts due to the short-term maturities of these instruments.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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