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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Outstanding Long-term Debt | Our long-term debt outstanding consists of the following (in millions):
| As of December 31,
| 2023 |  | 2022
Credit Agreement— |  |  |
Advances under revolving credit facility | $ | — |  |  | $ | 55.0 |
Bonds payable— |  |  |
5.75% Senior Notes due 2025 | 348.5 |  |  | 347.7 |
4.50% Senior Notes due 2028 | 785.0 |  |  | 781.8 |
4.75% Senior Notes due 2030 | 781.5 |  |  | 779.0 |
4.625% Senior Notes due 2031 | 391.5 |  |  | 390.6 |
Other notes payable | 66.0 |  |  | 53.1 |
Finance lease obligations | 340.1 |  |  | 359.8 |
| 2,712.6 |  |  | 2,767.0 |
Less: Current portion | (24.8) |  |  | (25.2) |
Long-term debt, net of current portion | $ | 2,687.8 |  |  | $ | 2,741.8 |
Our notes payable consist of the following (in millions):
| As of December 31, |  |
| 2023 |  | 2022 |  | Interest Rates
Sale/leaseback transactions involving real estate accounted for as financings | $ | 28.0 |  |  | $ | 28.0 |  |  | 9.2% to 13.4%
Construction of new hospitals | 38.0 |  |  | 20.7 |  |  | 5.0% to 5.5%
Software contracts | — |  |  | 4.4 |  |  | 2.8%
Other notes payable | $ | 66.0 |  |  | $ | 53.1 |  |  |
Schedule of Debt Maturities | The following chart shows scheduled principal payments due on long-term debt for the next five years and thereafter (in millions):
Year Ending December 31, |  | Face Amount |  | Net Amount
2024 |  | $ | 24.8 |  |  | $ | 24.8 |
2025 |  | 381.9 |  |  | 380.5 |
2026 |  | 29.2 |  |  | 29.2 |
2027 |  | 43.2 |  |  | 43.2 |
2028 |  | 831.7 |  |  | 816.8 |
Thereafter |  | 1,445.3 |  |  | 1,418.1 |
Total |  | $ | 2,756.1 |  |  | $ | 2,712.6 |
Schedule of Redemption Prices for Senior Notes | We may redeem the 2028 Notes, in whole or in part, at any time on or after February 1, 2023 at the redemption prices set forth below:
Period |  | Redemption Price*
2023 |  | 102.250 | %
2024 |  | 101.125 | %
2025 and thereafter |  | 100.000 | %
* Expressed in percentage of principal amount We may redeem the 2030 Notes, in whole or in part, at any time on or after February 1, 2025 at the redemption prices set forth below:
Period |  | Redemption Price*
2025 |  | 102.375 | %
2026 |  | 101.583 | %
2027 |  | 100.792 | %
2028 and thereafter |  | 100.000 | %
* Expressed in percentage of principal amount We may redeem the 2031 Notes, in whole or in part, at any time on or after April 1, 2026 at the redemption prices set forth below:
Period |  | Redemption Price*
2026 |  | 102.313 | %
2027 |  | 101.542 | %
2028 |  | 100.771 | %
2029 and thereafter |  | 100.000 | %
* Expressed in percentage of principal amount

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