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Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Composition of Long-Term Debt
Long-term debt consisted of the following:
 Maturity DateSeptember 30, 2023December 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, 20291,756.8 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, 2027600.0 600.0 
2029 Senior Notes (effective interest rate of 3.6% at September 30, 2023 and 3.6% at December 31, 2022)
March 1, 2029800.0 800.0 
Revolver
November 10, 2027— — 
Total3,882.4 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 
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(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 
202425.1 
202525.1 
202625.1 
20271,318.9 
Thereafter2,481.9 
$3,882.4