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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Recorded at Fair Value
Financial Instruments Recorded at Fair Value (in millions):
June 30, 2025December 31, 2024
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:        
Cash and cash equivalents$833.0 $— $— $833.0 $671.4 $— $— $671.4 
Deferred compensation asset (a)
0.4 — — 0.4 0.4 — — 0.4 
Liabilities:  
Deferred compensation obligation (a)
$0.4 $— $— $0.4 $0.4 $— $— $0.4 
 
(a)    The deferred compensation obligation represents the balance of deferred compensation plus net investment earnings. The deferred compensation plan is funded through a rabbi trust. Trust funds are invested in mutual funds for which unit prices are quoted in active markets and are classified within Level 1 of the valuation hierarchy.
Fair Value Option, Disclosures
The carrying value and estimated fair value of long-term debt were as follows (in millions):
June 30, 2025December 31, 2024
Carrying Value
Estimated Fair Value (a)
Carrying Value
Estimated Fair Value (a)
8.25% Notes$— 
(b)
$— $89.6 
(b)
$73.6 
2.25% Convertible Notes
$390.0 
(c)
$804.6 $389.0 
(c)
$403.8 
(a) Based on bid/ask quotes as of or near the balance sheet date, which are considered Level 2 inputs.
(b)    As of June 30, 2025, the carrying value of the 8.25% Notes consists of the principal balance of $0 due to the redemption of the 8.25% Notes in March 2025. As of December 31, 2024, the carrying value of the 8.25% Notes consists of the principal balance of $74.3 million and the sum of current and noncurrent interest payment obligations until maturity. Refer to Note 6, Debt.
(c)As of June 30, 2025 and December 31, 2024, the carrying value of the 2.25% Convertible Notes is net of $12.5 million and $13.5 million of unamortized debt issuance costs, respectively. Refer to Note 6, Debt.