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DEBT (Tables)

3 Months Ended

Mar. 31, 2022

DEBT

Schedule of debt

​

​	​	​	​	​	​	​
​		March 31,		​	December 31,
​	​	2022			2021
Term Loan Agreement due December 2023, floating rate	​	$	159.5	​	$	159.5
$300 million fixed rate Senior Notes due March 2032, stated rate of 3.000%	​	​	295.8	​	​	—
$500 million fixed rate Senior Notes due December 2030, stated rate of 1.625%	​	​	493.5	​	​	493.3
$650 million fixed rate Senior Notes due January 2027, stated rate of 3.650%	​		646.7	​		646.5
Revolving Credit Agreement (1)	​	​	(1.9)	​	​	—
EuroCCP Credit Facility	​	​	—	​	​	—
Total debt	​	$	1,593.6	​	$	1,299.3

(1) As of March 31, 2022 there was no balance drawn from the Revolving Credit Facility. The above represents the debt issuance costs related to the amendment of the Revolving Credit Agreement as defined below.

Schedule of maturities of long-term debt

The future expected loan repayments related to the Term Loan Agreement and the Senior Notes as of March 31, 2022 are as follows (in millions):

​	​	​	​
Remainder of 2022		$	—
2023	​	​	160.0
2024	​	​	—
2025	​	​	—
2026	​	​	—
Thereafter	​	​	1,450.0
Principal amounts repayable	​	​	1,610.0
Debt issuance costs	​	​	(9.7)
Unamortized discounts on notes	​	​	(6.7)
Total debt outstanding	​	$	1,593.6

Schedule of interest expense

Interest expense, net recognized in the condensed consolidated statements of income for the three months ended March 31, 2022 and 2021 is as follows (in millions)

​

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2022			2021
Components of interest expense:	​	​	​	​	​	​
Contractual interest	​	$	11.2	​	$	11.7
Amortization of debt discount and issuance costs	​		0.5	​		0.7
Interest expense	​	$	11.7	​	$	12.4
Interest income	​	​	(0.9)	​	​	(0.1)
Interest expense, net	​	$	10.8	​	$	12.3

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