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Fair Value Measurements, Equity Investments and Other Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Hierarchy of Financial Instruments | The fair value, measured on a recurring basis, of our financial instruments, using the fair value hierarchy under GAAP, are included in the table below.
|  | September 30, 2024
(In millions) |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents |  | $ | 54.9 |  |  | $ | 54.9 |  |  | $ | — |  |  | $ | — |
Derivative financial and hedging instruments net liability: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (2.7) |  |  | $ | — |  |  | $ | (2.7) |  |  | $ | — |
Cross-currency swaps |  | $ | (17.5) |  |  | $ | — |  |  | $ | (17.5) |  |  | $ | — |
|  | December 31, 2023
(In millions) |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents |  | $ | 40.2 |  |  | $ | 40.2 |  |  | $ | — |  |  | $ | — |
Derivative financial and hedging instruments net asset (liability): |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 0.8 |  |  | $ | — |  |  | $ | 0.8 |  |  | $ | — |
Cross-currency swaps |  | $ | (19.9) |  |  | $ | — |  |  | $ | (19.9) |  |  | $ | — |
Schedule of Carrying Value of Investments Without Readily Determinable Fair Values | The following carrying value of these investments were included within Other non-current assets in our Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023:
(In millions) |  | September 30, 2024 |  | December 31, 2023
Carrying value at the beginning of period |  | $ | 13.8 |  |  | $ | 13.3 |
Purchases |  | — |  |  | — |
Impairments or downward adjustments |  | — |  |  | — |
Upward adjustments |  | — |  |  | — |
Currency translation on investments |  | 0.1 |  |  | 0.5 |
Carrying value at the end of period |  | $ | 13.9 |  |  | $ | 13.8 |
Schedule of Carrying Amounts and Estimated Fair Values of Debt | The table below shows the carrying amounts and estimated fair values of our debt, excluding our lease liabilities.
|  |  |  | September 30, 2024 |  | December 31, 2023
(In millions) |  | Interest rate |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Term Loan A due March 2027(1) |  |  |  | $ | 872.9 |  |  | $ | 872.9 |  |  | $ | 1,050.1 |  |  | $ | 1,050.1 |
Senior Notes due September 2025 |  | 5.500 | % |  | — |  |  | — |  |  | 399.1 |  |  | 400.7 |
Senior Secured Notes due October 2026 |  | 1.573 | % |  | 597.8 |  |  | 562.6 |  |  | 597.0 |  |  | 539.5 |
Senior Notes due December 2027 |  | 4.000 | % |  | 423.0 |  |  | 410.2 |  |  | 422.5 |  |  | 399.4 |
Senior Notes due February 2028 |  | 6.125 | % |  | 766.5 |  |  | 786.9 |  |  | 764.8 |  |  | 780.8 |
Senior Notes due April 2029 |  | 5.000 | % |  | 422.1 |  |  | 418.1 |  |  | 421.7 |  |  | 410.8 |
Senior Notes due February 2031 |  | 7.250 | % |  | 421.2 |  |  | 449.7 |  |  | 420.9 |  |  | 450.3 |
Senior Notes due July 2032 |  | 6.500 | % |  | 396.1 |  |  | 411.3 |  |  | — |  |  | — |
Senior Notes due July 2033 |  | 6.875 | % |  | 446.9 |  |  | 489.5 |  |  | 446.7 |  |  | 477.0 |
Other foreign borrowings(1) |  |  |  | 107.7 |  |  | 107.7 |  |  | 94.1 |  |  | 94.1 |
Other domestic borrowings |  |  |  | 56.6 |  |  | 56.6 |  |  | 65.9 |  |  | 65.0 |
Total debt(2) |  |  |  | $ | 4,510.8 |  |  | $ | 4,565.5 |  |  | $ | 4,682.8 |  |  | $ | 4,667.7 |
(1)Includes borrowings denominated in currencies other than U.S. dollars. (2)The carrying amount and estimated fair value of debt exclude lease liabilities.

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