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Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Borrowings Outstanding

Debt for the Company consists of the following:

(in millions)			December 31, 2022												December 31, 2021
Debt:			Amount						Rate						Amount						Rate						Maturity Date
2019 Credit Agreement:
Term A Facility			$	638.8					(1)						$	675.0					(2)						October 16, 2024
Revolver			337.0						(1)						—						(2)						October 16, 2024
2031 Senior Notes			800.0						3.875%						800.0						3.875%						October 15, 2031
2029 Senior Notes			800.0						4.000%						800.0						4.000%						April 15, 2029
Securitized debt			139.3						(3)						—						(3)						April 6, 2023
Finance lease obligations (4)			78.7												75.2												Various
Other			37.0												3.0												Various
Total debt			2,830.8												2,353.2
Less: Deferred financing costs			20.5												21.7
Total debt, net			2,810.3												2,331.5
Less: Current portion			70.4												53.0
Total long-term debt, net			$	2,739.9											$	2,278.5

(1)			Interest at LIBOR plus applicable margin of 1.250% as of December 31, 2022.
(2)			Interest at LIBOR plus applicable margin of 1.250% as of December 31, 2021.
(3)			Interest at one month LIBOR index plus 70 basis points.
(4)			Finance lease obligations are a non-cash financing activity. Refer to Note 7, "Leases."

Schedule of Maturities of Long-term Debt

As of December 31, 2022, the scheduled maturities of long-term debt outstanding, excluding finance lease obligations, for each of the next five years and thereafter are as follows:

(in millions)
2023						$	196.5
2024						921.4
2025						—
2026						—
2027						—
Thereafter						1,634.1
Total(1)						$	2,752.0
(1) Total future obligations excludes $27.4 million of outstanding letters of credit issued by various financial institutions, including $0.6 million associated with the 2019 Credit Facility.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

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