XML 88 R77.htm IDEA: XBRL DOCUMENT v3.23.2
Debt and Credit Arrangements - Senior Secured Revolving Credit Facility and Term Loan (Details) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Oct. 18, 2021
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Mar. 17, 2023
Nov. 21, 2022
Debt Instrument                  
Unamortized debt issuance costs $ 34,900,000   $ 34,900,000   $ 34,900,000   $ 4,800,000    
Interest expense, debt     80,300,000   128,500,000        
Unamortized discount 28,500,000   28,500,000   28,500,000   29,900,000    
Revolving Credit Facility                  
Debt Instrument                  
Potential increase to applicable margin (percent)   0.05%              
Potential decrease to applicable margin (percent)   0.025%              
Potential increase to sustainability fee (percent)   0.01%              
Potential decrease to sustainability fee (percent)   0.01%              
Unamortized debt issuance costs 36,100,000   36,100,000   36,100,000   0    
Interest expense, debt     46,000,000.0 $ 5,000,000.0 54,100,000 $ 8,300,000      
Unamortized discount $ 37,700,000   $ 37,700,000   $ 37,700,000   0    
Revolving Credit Facility | Minimum                  
Debt Instrument                  
Incremental commitment amount                 $ 10,000,000.0
Incremental commitment amount, per lender                 1,000,000.0
Revolving Credit Facility | Minimum | Base Rate                  
Debt Instrument                  
Debt instrument variable interest rate (percent)   0.25%              
Revolving Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                  
Debt Instrument                  
Debt instrument variable interest rate (percent)   1.25%              
Commitment fee (percent)   0.20%              
Revolving Credit Facility | Maximum | Base Rate                  
Debt Instrument                  
Debt instrument variable interest rate (percent)   1.25%              
Revolving Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                  
Debt Instrument                  
Debt instrument variable interest rate (percent)   2.25%              
Commitment fee (percent)   0.35%              
Revolving Credit Facility | Senior secured revolving credit facility due October 2026                  
Debt Instrument                  
Maximum borrowing capacity   $ 1,000,000,000              
Maximum percentage of capital stock guaranteed by company 65.00%   65.00%   65.00%        
Debt issuance cost         $ 400,000   1,500,000    
Unamortized debt issuance costs $ 7,600,000   $ 7,600,000   7,600,000   8,400,000    
Interest expense, debt     11,800,000 5,000,000.0 14,400,000 8,300,000      
Principal amount               $ 1,534,800,000  
Revolving Credit Facility | Senior secured revolving credit facility due October 2026 | Scenario, Adjustment                  
Debt Instrument                  
Unamortized debt issuance costs             7,100,000    
Revolving Credit Facility | Term Loan Due 2030                  
Debt Instrument                  
Interest expense, debt     34,200,000 $ 0 39,700,000 $ 0      
Revolving Credit Facility | Term Loan Due 2030 | Term Loan                  
Debt Instrument                  
Unamortized debt issuance costs                 37,200,000
Unamortized discount                 38,900,000
Principal amount $ 1,781,000,000   1,781,000,000   1,781,000,000   $ 0    
Interest accretion     $ 1,100,000   $ 1,200,000        
Percentage of excess cash flow to repay term loans (as a percent)         50.00%        
Percentage of net cash proceeds to repay term loans (as a percent)         100.00%        
Revolving Credit Facility | Term Loan Due 2030 | Interest Rate Option One                  
Debt Instrument                  
Percentage of principal amount redeemed, quarterly installments 0.50%                
Revolving Credit Facility | Term Loan Due 2030 | Interest Rate Option Two                  
Debt Instrument                  
Debt instrument variable interest rate (percent) 1.50%                
Percentage of principal amount redeemed, quarterly installments 0.25%                
Revolving Credit Facility | Term Loan Due 2030 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest Rate Option One                  
Debt Instrument                  
Debt instrument variable interest rate (percent) 0.10%                
Revolving Credit Facility | Term Loan Due 2030 | Applicable Margin Rate | Interest Rate Option One                  
Debt Instrument                  
Debt instrument variable interest rate (percent) 3.75%                
Revolving Credit Facility | Term Loan Due 2030 | Applicable Margin Rate | Interest Rate Option Two                  
Debt Instrument                  
Debt instrument variable interest rate (percent) 2.75%                
Revolving Credit Facility | Term Loan Due 2030 | Adjusted Term SOFR                  
Debt Instrument                  
Adjusted interest rate trigger (as a percent) 0.50%   0.50%   0.50%        
Revolving Credit Facility | Term Loan Due 2030 | Adjusted Term SOFR | Interest Rate Option Two                  
Debt Instrument                  
Adjusted interest rate trigger (as a percent) 1.00%   1.00%   1.00%        
Revolving Credit Facility | Term Loan Due 2030 | NYFRB Rate                  
Debt Instrument                  
Adjusted interest rate trigger (as a percent) 0.50%   0.50%   0.50%        
Revolving Credit Facility Sub-limit - Letters of Credit | Senior secured revolving credit facility due October 2026                  
Debt Instrument                  
Maximum borrowing capacity   350,000,000.00             $ 150,000,000.00
Revolving Credit Facility Sub-limit - Discretionary Letters of Credit | Senior secured revolving credit facility due October 2026                  
Debt Instrument                  
Maximum borrowing capacity   200,000,000.0              
Revolving Credit Facility Sub-limit - Swingline | Senior secured revolving credit facility due October 2026                  
Debt Instrument                  
Maximum borrowing capacity   $ 100,000,000.0