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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Composition of Long-Term Debt

Long-term debt consisted of the following:

									December 31,
			Maturity Date						2020						2019
2024 Term Loans (effective interest rate of 2.8% at December 31, 2020 and 4.7% at December 31, 2019)			February 15, 2024						$	1,807.4					$	1,832.3
2027 Term Loans (effective interest rate of 3.0% at December 31, 2020)			August 10, 2027						746.2						—
Senior Notes (effective interest rate of 5.4% at December 31, 2020 and December 31, 2019)			December 1, 2027						600.0						600.0
Revolver			February 15, 2024						—						—
Total									3,153.6						2,432.3
Less: unamortized original issue discount on long-term debt(1)									(13.5)						(13.2)
Less: unamortized debt issuance costs(1)									(25.7)						(23.9)
Less: current portion of long-term debt									(24.3)						(18.4)
									$	3,090.1					$	2,376.8

_________________________________

(1) Original issue discount and debt issuance costs amortized to interest expense over the life of the related debt instruments using the interest method.

Aggregate Principal Payments Due on Long-Term Debt

Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of December 31, 2020 are as follows:

Year Ending December 31:
2021			$	32.5
2022			32.5
2023			32.5
2024			1,740.0
2025			7.5
Thereafter			1,308.6
			$	3,153.6

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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