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Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Composition of Long-Term Debt | Long-term debt consisted of the following:
| Maturity Date |  | September 30, 2023 |  | December 31, 2022
2027 Term Loans (effective interest rate of 7.3% at September 30, 2023 and 4.3% at December 31, 2022) | August 10, 2027 |  | $ | 725.6 |  |  | $ | 731.3 |
2029 Term Loans (effective interest rate of 8.4% at September 30, 2023 and 4.1% at December 31, 2022) | November 10, 2029 |  | 1,756.8 |  |  | 1,770.0 |
2027 Senior Notes (effective interest rate of 5.5% at September 30, 2023 and 5.4% at December 31, 2022) | December 1, 2027 |  | 600.0 |  |  | 600.0 |
2029 Senior Notes (effective interest rate of 3.6% at September 30, 2023 and 3.6% at December 31, 2022) | March 1, 2029 |  | 800.0 |  |  | 800.0 |
Revolver | November 10, 2027 |  | — |  |  | — |
Total |  |  | 3,882.4 |  |  | 3,901.3 |
Less: unamortized original issue discount and debt issuance costs(1) |  |  | (62.1) |  |  | (70.2) |
Less: current portion of long-term debt |  |  | (18.0) |  |  | (18.2) |
|  |  | $ | 3,802.3 |  |  | $ | 3,812.9 |
_________________________________ (1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.
Estimated Fair Values of Long-Term Debt Instruments | The estimated fair values of our long-term debt instruments are based on observable market prices for these instruments, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of September 30, 2023:
2027 Term Loans | $ | 725.6 |
2029 Term Loans | $ | 1,759.0 |
2027 Senior Notes | $ | 566.1 |
2029 Senior Notes | $ | 673.2 |
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 September 30, 2023 were as follows:
Year Ending December 31: |
2023 (remainder of) | $ | 6.3 |
2024 | 25.1 |
2025 | 25.1 |
2026 | 25.1 |
2027 | 1,318.9 |
Thereafter | 2,481.9 |
| $ | 3,882.4 |

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