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Debt (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Components of Debt | The components of debt consisted of the following:
(in millions) | September 30, 2024 |  | December 31, 2023
Equipment Financing due May 2024 | $ | — |  |  | $ | 2.7 |
Equipment Financing due November 2025 | 10.6 |  |  | 15.2 |
5.15% Mortgage due November 2025 | 61.5 |  |  | 63.3 |
0.375% Convertible Senior Notes due September 2026 | 800.0 |  |  | 800.0 |
Equipment Financing | 14.0 |  |  | 12.7 |
Term Loan due August 2031 | 483.7 |  |  | 487.5 |
Revolving Credit Facility expires June 2028 | — |  |  | — |
Equipment Financing due July 2028 | 24.8 |  |  | 29.0 |
Finance lease obligation | 18.7 |  |  | 22.9 |
Unamortized debt discount | (6.1) |  |  | (6.4) |
Debt issuance costs | (8.9) |  |  | (11.1) |
Total debt, net | 1,398.3 |  |  | 1,415.8 |
Less: current portion | 42.0 |  |  | 49.4 |
Total long-term debt, net | $ | 1,356.3 |  |  | $ | 1,366.4 |
Schedule of Interest Expense | The components of interest expense related to the Convertible Notes for the were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Contractual interest expense | $ | 0.8 |  |  | $ | 0.8 |  |  | $ | 2.3 |  |  | $ | 2.3 |
Amortization of debt issuance costs | 0.7 |  |  | 0.7 |  |  | 2.2 |  |  | 2.2 |
Total interest recognized on the Convertible Notes | $ | 1.5 |  |  | $ | 1.5 |  |  | $ | 4.5 |  |  | $ | 4.5 |
Schedule of Carrying Amount and Estimated Fair Value of Convertible Debt | At the end of each period, the carrying value of the Company’s debt was comprised of the following:
(in millions) | September 30, 2024 |  | December 31, 2023
Term Loan | $ | 475.2 |  |  | $ | 479.2 |
Convertible Notes | 794.1 |  |  | 791.8 |
Equipment financings | 49.2 |  |  | 59.3 |
Mortgage | 61.1 |  |  | 62.6 |
Finance lease obligation | 18.7 |  |  | 22.9 |
Total debt, net | $ | 1,398.3 |  |  | $ | 1,415.8 |

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