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Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Borrowings Outstanding

Debt for the Company consists of the following:

(in millions)			December 31, 2024												December 31, 2023
Debt:			Amount						Rate						Amount						Rate						Maturity Date
2023 Credit Agreement:
Term A Facility			$	475.0					(1)						$	500.0					(2)						October 10, 2028
Term B Facility			1,600.0						(3)						—												October 24, 2031
Revolver			—												183.0						(2)						October 10, 2028
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			—												157.6						(4)						October 8, 2026
Finance lease obligations (5)			88.7												92.1												Various
Other			80.8												60.9												Various
Total debt			3,844.5												2,593.6
Less: Deferred financing costs and discounts			34.6												21.7
Total debt, net			3,809.9												2,571.9
Less: Current portion			69.5												44.9
Total long-term debt, net			$	3,740.4											$	2,527.0

(1)			Interest at SOFR index plus 10 basis points of credit spread adjustment, plus applicable margin of 1.250% as of December 31, 2024.
(2)			Interest at SOFR index plus 10 basis points of credit spread adjustment, plus applicable margin of 1.625% as of December 31, 2023.
(3)			Interest at SOFR index plus applicable margin of 2.500% as of December 31, 2024.
(4)			Interest at one month SOFR index plus 10 basis points of credit spread adjustment, plus 85 basis points.
(5)			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, 2024, 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)
2025						$	52.5
2026						49.7
2027						49.7
2028						424.7
2029						24.7
Thereafter						3,154.4
Total(1)						$	3,755.7
(1) Total future obligations excludes $28.5 million of outstanding letters of credit issued by various financial institutions, including $0.8 million associated with the 2023 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
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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