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CREDIT FACILITIES (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Line of Credit Facilities | Activity under our Credit Facility during 2024 and Q1 2025 is set forth below:
| Revolver (excluding L/C) |  | Term Loans
Outstanding balances as of December 31, 2023 | $ | — |  |  |  | $ | 608.9 |  |
Amount borrowed in Q1 2024 | 285.0 |  |  |  | — |  |
Amount repaid in Q1 2024 | (257.0) |  |  |  | (4.5625) |  | (1)
Amount borrowed in Q2 2024 | 180.0 |  | (2) |  | 750.0 |  | (3)
Amount repaid in Q2 2024 | (208.0) |  |  |  | (604.3) |  | (4)
Amount borrowed in Q3 2024 | 20.0 |  |  |  | — |  |
Amount repaid in Q3 2024 | (20.0) |  |  |  | (4.375) |  | (5)
Amount borrowed in Q4 2024 | 313.0 |  |  |  | — |  |
Amount repaid in Q4 2024 | (313.0) |  |  |  | (4.375) |  | (5)
Outstanding balances as of December 31, 2024 | $ | — |  |  |  | $ | 741.2 |  |
Amount borrowed in Q1 2025 | 310.0 |  |  |  | — |  |
Amount repaid in Q1 2025 | (160.0) |  |  |  | (4.375) |  | (5)
Outstanding balances as of March 31, 2025 | $ | 150.0 |  |  |  | $ | 736.8 |  |
(1) Represents the scheduled quarterly principal repayments under the Incremental Term Loan. (2) A portion was used to fund the NCS purchase price (see note 4). (3) Represents borrowings under the Term Loans. (4) Represents the repayment and termination of the Initial Term Loan and Incremental Term Loan. (5) Represents scheduled quarterly principal repayments under the Term Loans.
Schedule of Long-Term Debt Instruments | The following table sets forth, at the dates shown: outstanding borrowings under the Credit Facility, excluding ordinary course L/Cs; notional amounts under our interest rate swap agreements; and outstanding finance lease obligations:
| Outstanding borrowings |  | Notional amounts under interest rate swaps (note 15)
| March 31 2025 |  | December 31 2024 |  | March 31 2025 |  | December 31 2024
Borrowings under the Revolver | $ | 150.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Borrowings under the Term Loans: |  |  |  |  |  |  |
Term A Loan | $ | 240.6 |  |  | $ | 243.7 |  |  | $ | 130.0 |  |  | $ | 130.0 |
Term B Loan | 496.2 |  |  | 497.5 |  |  | 240.0 |  |  | 200.0 |
Total | $ | 736.8 |  |  | $ | 741.2 |  |  | $ | 370.0 |  |  | $ | 330.0 |
Total borrowings under Credit Facility | $ | 886.8 |  |  | $ | 741.2 |  |  |  |  |
Unamortized debt issuance costs related to the Term Loans | (5.9) |  |  | (6.2) |  |  |  |  |
Finance lease obligations (see note 7) | 60.8 |  |  | 61.7 |  |  |  |  |
| $ | 941.7 |  |  | $ | 796.7 |  |  |  |  |
Total Credit Facility and finance lease obligations: |  |  |  |  |  |  |
Current portion | $ | 26.7 |  |  | $ | 26.5 |  |  |  |  |
Long-term portion | 915.0 |  |  | 770.2 |  |  |  |  |
| $ | 941.7 |  |  | $ | 796.7 |  |  |  |  |
The following table sets forth, at the dates shown, information regarding outstanding L/Cs, guarantees, surety bonds and overdraft facilities:
| March 31 2025 |  | December 31 2024 |  |  |  |
Outstanding L/Cs under the Revolver | $ | 11.1 |  |  | $ | 11.1 |  |  |  |  |
Outstanding bank guarantees and surety bonds outside the Revolver | 30.1 |  |  | 23.0 |  |  |  |  |
Total | $ | 41.2 |  |  | $ | 34.1 |  |  |  |  |
Available uncommitted bank overdraft facilities | $ | 198.5 |  |  | $ | 198.5 |  |  |  |  |
Amounts outstanding under available uncommitted bank overdraft facilities | $ | — |  |  | $ | — |  |  |  |  |

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