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Debt (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Borrowings Outstanding | Debt for the Company consists of the following:
| March 31, 2025 |  | December 31, 2024 |  |
(in millions, except percentages) | Amount |  | Rate |  | Amount |  | Rate |  | Maturity Date
2023 Credit Agreement: |  |  |  |  |  |  |  |  |
Term A Facility | $ | 1,085.9 |  |  | (1) |  | $ | 475.0 |  |  | (1) |  | October 10, 2028
Term B Facility | 1,596.0 |  |  | (2) |  | 1,600.0 |  |  | (2) |  | October 24, 2031
Revolver | 481.0 |  |  | (1) |  | — |  |  |  |  | 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 | 109.8 |  |  | (3) |  | — |  |  |  |  | October 8, 2026
Finance lease obligations (4) | 96.8 |  |  |  |  | 88.7 |  |  |  |  | Various
Other | 100.4 |  |  |  |  | 80.8 |  |  |  |  | Various
Total debt | 5,069.9 |  |  |  |  | 3,844.5 |  |  |  |  |
Less: Deferred financing costs | 36.9 |  |  |  |  | 34.6 |  |  |  |  |
Total debt, net | 5,033.0 |  |  |  |  | 3,809.9 |  |  |  |  |
Less: Current portion | 112.3 |  |  |  |  | 69.5 |  |  |  |  |
Total long-term debt, net | $ | 4,920.7 |  |  |  |  | $ | 3,740.4 |  |  |  |  |
(1) | Interest at SOFR index plus 10 basis points of credit spread adjustment, plus applicable margin of 1.250% as of March 31, 2025 and December 31, 2024.
(2) | Interest at SOFR index plus applicable margin of 2.500% as of March 31, 2025 and December 31, 2024.
(3) | Interest at one month SOFR index plus 10 basis points of credit spread adjustment, plus 85 basis points.
(4) | New finance lease obligations are a non-cash financing activity.

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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 Reference 2: 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(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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