XML 57 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the Company’s Debt:
December 31,
2023
2024
Senior bank debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$349.9
$—
Senior notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,096.9
1,092.1
Junior subordinated notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
751.8
1,189.0
Junior convertible securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
338.9
339.1
Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2,537.5
$2,620.2
Schedule of Principal Terms of Senior and Junior Subordinated Notes As of December 31, 2024, the Company had senior notes outstanding, the respective principal terms and effective interest
rates of which are presented below:     
2025
Senior Notes
2030
Senior Notes
2034
Senior Notes
Issue date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
February 2015
June 2020
August 2024
Maturity date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
August 2025
June 2030
August 2034
Par value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$350.0
$350.0
$400.0
Stated coupon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.50%
3.30%
5.50%
Coupon frequency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Semi-annually
Semi-annually
Semi-annually
Call price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
As defined
As defined
As defined
Effective interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.67%
3.39%
5.64%
As of December 31, 2024, the Company had junior subordinated notes outstanding, the respective principal terms and
effective interest rates of which are presented below: 
2059
Junior Subordinated
Notes
2060
Junior Subordinated
Notes
2061
Junior Subordinated
Notes
2064
Junior Subordinated
Notes
Issue date . . . . . . . . . . . . . . . . . . . . . . . . . .
March 2019
September 2020
July 2021
March 2024
Maturity date . . . . . . . . . . . . . . . . . . . . . . .
March 2059
September 2060
September 2061
March 2064
Par value . . . . . . . . . . . . . . . . . . . . . . . . . . .
$300.0
$275.0
$200.0
$450.0
Stated coupon . . . . . . . . . . . . . . . . . . . . . . .
5.875%
4.75%
4.20%
6.75%
Coupon frequency . . . . . . . . . . . . . . . . . . .
Quarterly
Quarterly
Quarterly
Quarterly
Call price . . . . . . . . . . . . . . . . . . . . . . . . . .
As defined
As defined
As defined
As defined
NYSE Symbol . . . . . . . . . . . . . . . . . . . . . .
MGR
MGRB
MGRD
MGRE
Effective interest rate . . . . . . . . . . . . . . . . .
5.91%
4.78%
4.23%
6.76%
Schedule of Convertible Securities The following table presents interest expense recorded in connection with the junior convertible securities:
For the Years Ended December 31,
2022
2023
2024
Contractual interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$18.3
$17.6
$17.6
Amortization of debt issuance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
0.2
0.2
0.2
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$18.5
$17.8
$17.8
Effective interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.21%
5.21%
5.21%