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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The components of debt consisted of the following:
|  |  | December 31, 2024 |  | December 31, 2023
(in millions) | Maturity Date |  | Amount |  | Effective Interest Rate |  | Amount |  | Effective Interest Rate
Equipment financing | 2024 |  | $ | — |  |  | 7.83 | % |  | $ | 2.7 |  |  | 5.76 | %
Equipment financing | 2025 |  | 8.6 |  |  | 5.90 | % |  | 15.2 |  |  | 4.77 | %
Mortgage | 2025 |  | 61.0 |  |  | 5.74 | % |  | 63.3 |  |  | 5.73 | %
Convertible Senior Notes | 2026 |  | 800.0 |  |  | 0.76 | % |  | 800.0 |  |  | 0.76 | %
Equipment financing |  |  | 17.5 |  |  | 8.87 | % |  | 12.7 |  |  | 9.37 | %
Revolving Credit Facility | 2028 |  | — |  |  |  |  | — |  |  |
Equipment financing | 2028 |  | 23.4 |  |  | 4.27 | % |  | 29.0 |  |  | 4.27 | %
Term Loan | 2031 |  | 482.5 |  |  |  |  | 487.5 |  |  |
Finance lease obligation(1) |  |  | — |  |  |  |  | 22.9 |  |  |
Unamortized debt discount | 2025 - 2031 |  | (5.4) |  |  |  |  | (6.4) |  |  |
Debt issuance costs | 2025 - 2031 |  | (7.7) |  |  |  |  | (11.1) |  |  |
Total debt, net |  |  | 1,379.9 |  |  |  |  | 1,415.8 |  |  |
Less: current portion |  |  | 83.8 |  |  |  |  | 49.4 |  |  |
Total long term-debt, net |  |  | $ | 1,296.1 |  |  |  |  | $ | 1,366.4 |  |  |
(1) Refer to Note 14 for information regarding finance lease obligation.
Schedule of Interest Expense | The components of interest expense related to the Notes were as follows:
| Years Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Contractual interest expense | $ | 3.0 |  |  | $ | 3.0 |  |  | $ | 3.0 |
Amortization of debt issuance costs | 3.0 |  |  | 3.0 |  |  | 3.0 |
Total interest recognized on the Convertible Senior Notes | $ | 6.0 |  |  | $ | 6.0 |  |  | $ | 6.0 |
Schedule of Carrying Amount and Estimated Fair Value of Convertible Debt | The carrying value amounts of the Company’s debt were as follows:
| As of December 31,
(in millions) | 2024 |  | 2023
Term Loan | $ | 475.1 |  |  | $ | 479.2 |
Convertible Senior Notes | 794.9 |  |  | 791.8 |
Equipment financings | 49.3 |  |  | 59.3 |
Mortgage | 60.6 |  |  | 62.6 |
Finance lease obligation | — |  |  | 22.9 |
Total debt, net | $ | 1,379.9 |  |  | $ | 1,415.8 |
Schedule of Maturities of Debt | The maturity of debt as of December 31, 2024 is as follows:
Years Ending December 31, | (in millions)
2025 | $ | 83.8 |
2026 | $ | 817.1 |
2027 | $ | 18.1 |
2028 | $ | 11.4 |
2029 | $ | 5.0 |

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