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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | The components of debt consisted of the following:
| As of December 31,
(in millions) | 2023 |  | 2022
Equipment financing due May 2024 | $ | 2.7 |  |  | $ | 9.5 |
Equipment financing due November 2025 | 15.2 |  |  | 22.5 |
5.15% Mortgage due November 2025 | 63.3 |  |  | 65.5 |
0.375% Convertible Senior Notes due September 2026 | 800.0 |  |  | 800.0 |
Equipment financing | 12.7 |  |  | — |
Term loan due May 2028 | 487.5 |  |  | 492.5 |
Revolving Credit Facility expires June 2028 | — |  |  | — |
Equipment financing due July 2028 | 29.0 |  |  | 34.4 |
Finance lease obligation(1) | 22.9 |  |  | — |
Unamortized debt discount | (6.4) |  |  | (7.6) |
Debt issuance costs | (11.1) |  |  | (15.0) |
Total debt, net | 1,415.8 |  |  | 1,401.8 |
Less: current portion | 49.4 |  |  | 27.5 |
Total long term-debt, net | $ | 1,366.4 |  |  | $ | 1,374.3 |
(1) Refer to Note 15 for information regarding finance lease obligation. The carrying value amounts of the Company’s debt were as follows:
| As of December 31,
(in millions) | 2023 |  | 2022
Term loan due May 2028 | $ | 479.2 |  |  | $ | 482.1 |
0.375% Convertible Senior Notes | 791.8 |  |  | 788.8 |
Equipment financings | 59.3 |  |  | 66.4 |
5.15% Mortgage | 62.6 |  |  | 64.5 |
Finance lease obligation | 22.9 |  |  | — |
Total debt, net | $ | 1,415.8 |  |  | $ | 1,401.8 |
Schedule of Interest Expense | The components of interest expense related to the Notes were as follows:
| Years Ended December 31,
(in millions) | 2023 |  | 2022 |  | 2021
Contractual interest expense | $ | 3.0 |  |  | $ | 3.0 |  |  | $ | 3.0 |
Amortization of debt issuance costs | 3.0 |  |  | 3.0 |  |  | 1.9 |
Total interest recognized on the Convertible Notes | $ | 6.0 |  |  | $ | 6.0 |  |  | $ | 4.9 |
Schedule of Maturities of Debt | The maturity of debt as of December 31, 2023 is as follows:
Years Ending December 31, | (in millions)
2024 | $ | 49.4 |
2025 | $ | 86.4 |
2026 | $ | 818.9 |
2027 | $ | 17.2 |
2028 | $ | 472.5 |

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