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FINANCIAL INSTRUMENTS AND FAIR VALUE (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Carrying Values and Fair Values of Liabilities | A summary of the carrying values and fair values of our subordinated long-term debt notes and our mortgage notes payable bearing interest at fixed rates is as follows:
| As of
| September 30, 2025 |  | December 31, 2024
| (In millions)
Carrying Value: |  |  |
4.50% Senior Notes due 2028 | $ | 403.8 |  |  | $ | 403.4 |
4.625% Senior Notes due 2029 | 793.0 |  |  | 791.9 |
4.75% Senior Notes due 2030 | 443.1 |  |  | 442.8 |
5.00% Senior Notes due 2032 | 593.7 |  |  | 593.0 |
Mortgage notes payable bearing interest at fixed rates | 27.8 |  |  | 29.6 |
Total carrying value | $ | 2,261.4 |  |  | $ | 2,260.6 |
Fair Value: |  |  |
4.50% Senior Notes due 2028 | $ | 398.4 |  |  | $ | 385.8 |
4.625% Senior Notes due 2029 | 774.0 |  |  | 742.0 |
4.75% Senior Notes due 2030 | 430.5 |  |  | 412.7 |
5.00% Senior Notes due 2032 | 574.5 |  |  | 546.0 |
Mortgage notes payable bearing interest at fixed rates | 27.9 |  |  | 29.3 |
Total fair value | $ | 2,205.3 |  |  | $ | 2,115.8 |
Schedule of Derivative Instruments | The following table provides information on the attributes of each swap as of September 30, 2025:
Inception Date |  | Notional Principal at Inception |  | Notional Value as of September 30, 2025 |  | Notional Principal at Maturity |  | Maturity Date
|  | (In millions) |  |
January 2022 |  | $ | 300.0 |  |  | $ | 247.5 |  |  | $ | 228.8 |  |  | December 2026
January 2022 |  | $ | 250.0 |  |  | $ | 250.0 |  |  | $ | 250.0 |  |  | December 2031
May 2021 |  | $ | 184.4 |  |  | $ | 153.0 |  |  | $ | 110.6 |  |  | May 2031
July 2020 |  | $ | 93.5 |  |  | $ | 67.1 |  |  | $ | 50.6 |  |  | December 2028
July 2020 |  | $ | 85.5 |  |  | $ | 58.6 |  |  | $ | 57.3 |  |  | November 2025
Schedule of Derivative Instruments Fair Value | The following table provides information regarding the fair value of our interest rate swap agreements and the impact on the condensed consolidated balance sheets:
|  | As of
|  | September 30, 2025 |  | December 31, 2024
|  | (In millions)
Other current assets |  | $ | 14.9 |  |  | $ | 20.3 |
Other long-term assets |  | 34.5 |  |  | 56.3 |
Total fair value |  | $ | 49.4 |  |  | $ | 76.6 |
Schedule of Derivative Instruments Effect on Accumulated Other Comprehensive Income | Information about the effects of our interest rate swap agreements in the accompanying condensed consolidated statements of income and condensed consolidated statements of comprehensive income, is as follows (in millions):
For the Three Months Ended September 30, |  | Results Recognized in Accumulated Other Comprehensive Income/(Loss) (Effective Portion) |  | Location of Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings |  | Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings
2025 |  | $ | 1.1 |  |  | Other interest expense, net |  | $ | (6.1) |
2024 |  | $ | (20.3) |  |  | Other interest expense, net |  | $ | (8.9) |
For the Nine Months Ended September 30, |  | Results Recognized in Accumulated Other Comprehensive Income/(Loss) (Effective Portion) |  | Location of Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings |  | Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings
2025 |  | $ | (8.8) |  |  | Other interest expense, net |  | $ | (18.4) |
2024 |  | $ | 6.9 |  |  | Other interest expense, net |  | $ | (26.8) |
Schedule of Fair Value, Assets Measured on Recurring and Nonrecurring Basis | The table below presents the Company’s investment securities that are measured at fair value on a recurring basis aggregated by the level in the fair value hierarchy within which those measurements fall:
|  | As of September 30, 2025
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In millions)
Cash equivalents |  | $ | 2.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.5 |
Short-term investments |  | 0.5 |  |  | 0.4 |  |  | — |  |  | 0.9 |
U.S. Treasury |  | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Municipal |  | — |  |  | 5.0 |  |  | — |  |  | 5.0 |
Corporate |  | 0.3 |  |  | 173.3 |  |  | — |  |  | 173.6 |
Mortgage and other asset-backed securities |  | — |  |  | 231.3 |  |  | — |  |  | 231.3 |
Total |  | $ | 3.4 |  |  | $ | 410.0 |  |  | $ | — |  |  | $ | 413.4 |
|  | As of December 31, 2024
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In millions)
Cash equivalents |  | $ | 12.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 12.7 |
Short-term investments |  | 3.5 |  |  | 10.9 |  |  | — |  |  | 14.4 |
U.S. Treasury |  | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Municipal |  | — |  |  | 10.6 |  |  | — |  |  | 10.6 |
Corporate |  | — |  |  | 151.9 |  |  | — |  |  | 151.9 |
Mortgage and other asset-backed securities |  | — |  |  | 169.1 |  |  | — |  |  | 169.1 |
Total |  | $ | 6.1 |  |  | $ | 342.5 |  |  | $ | — |  |  | $ | 348.6 |
Schedule of Debt Securities, Available-for-Sale | Information about the effects of our available-for-sale debt securities in the accompanying condensed consolidated statements of income and condensed consolidated statements of comprehensive income, is as follows (in millions):
For the Three Months Ended September 30, |  | Results Recognized in Accumulated Other Comprehensive Income/(Loss) (Effective Portion) |  | Location of Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings |  | Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings
2025 |  | $ | 2.0 |  |  | Revenue-Finance and insurance, net |  | $ | 0.3 |
2024 |  | $ | 10.0 |  |  | Revenue-Finance and insurance, net |  | $ | 0.3 |
For the Nine Months Ended September 30, |  | Results Recognized in Accumulated Other Comprehensive Income/(Loss) (Effective Portion) |  | Location of Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings |  | Results Reclassified from Accumulated Other Comprehensive Income/(Loss) to Earnings
2025 |  | $ | 7.2 |  |  | Revenue-Finance and insurance, net |  | $ | 0.4 |
2024 |  | $ | 6.0 |  |  | Revenue-Finance and insurance, net |  | $ | 0.6 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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