XML 63 R47.htm IDEA: XBRL DOCUMENT
v3.25.0.1

DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt and Capital Lease Obligations | The Company’s debt obligations consisted of the following:
(dollars in millions) |  | Maturity Date |  | Interest Rate |  | December 31, 2024 |  | December 31, 2023
Term Loans (1) |  | 2030 |  | SOFR plus 1.75% |  | $ | 1,030.0 |  |  | $ | 1,140.2 |
Senior Notes - $800 million (2) |  | 2028 |  | 3.875% |  | 794.0 |  |  | 792.3 |
Total debt |  | 1,824.0 |  |  | 1,932.5 |
Less: current installments of long-term debt |  | 10.4 |  |  | 11.5 |
Total long-term debt |  | $ | 1,813.6 |  |  | $ | 1,921.0 |
(1) Term loans, net of unamortized discounts and debt issuance costs of $8.8 million and $9.8 million at December 31, 2024 and 2023, respectively. The effective interest rate was 3.0% and 3.3% at December 31, 2024 and 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 13, Financial Instruments, to the Consolidated Financial Statements for further information regarding the Company's interest rate swaps and net investment hedges. (2) Senior notes, net of unamortized debt issuance costs of $6.0 million and $7.7 million at December 31, 2024 and 2023, respectively. The effective interest rate was 4.1% at both December 31, 2024 and 2023.
Schedule of Maturities of Long-term Debt | Minimum future principal payments on long-term debt were as follows:
(dollars in millions) |  |  |  |  |
2025 | $ | 10.4 |  |  |  |  |
2026 | 10.4 |  |  |  |  |
2027 | 10.4 |  |  |  |  |
2028 | 810.4 |  |  |  |  |
2029 | 10.4 |  |  |  |  |
Thereafter | 986.8 |  |  |  |  |
Total | $ | 1,838.8 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration