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Financing | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Financing | Financing Our debt consisted of the following:
(in millions) |  | June 30, 2025 |  | December 31, 2024
Term Loan |  | $ | 51.4 |  |  | $ | — |
Revolving Facility |  | 216.0 |  |  | 210.0 |
Total short-term borrowings (a) |  | $ | 267.4 |  |  | $ | 210.0 |
Term Loan |  | $ | 321.1 |  |  | $ | — |
6.55% notes due November 2036 |  | 198.7 |  |  | 198.7 |
4.20% notes due March 2048 |  | 346.8 |  |  | 346.8 |
Other deferred financing costs associated with credit facilities |  | (4.8) |  |  | (4.9) |
Total long-term debt (a) |  | $ | 861.8 |  |  | $ | 540.6 |
(a) Debt discounts and debt issuance costs totaled $10.5 million and $9.4 million as of June 30, 2025, and December 31, 2024, respectively, have been netted against the aggregate principal amounts of the related debt in the components of the debt table above, where applicable.
Credit Faciliti es - On March 17, 2023, we became party to a senior secured credit agreement (the “Credit Agreement”) which provides for a $500 million, five-year revolving credit facility (the “Revolving Facility”) and we entered into a $350 million, 3-year term loan facility (the “Term Facility”). Funding for both facilities became available in connection with the Separation. On December 9, 2024, we entered into an amendment to the Credit Agreement which increased the Revolving Facility by $200 million to an aggregate $700 million and provided a delayed draw term loan (the “Term Loan”) of £300 million. On the same day, proceeds from the Revolving Facility were used to repay the outstanding Term Facility. In the six months ended June 30, 2025, we drew down $348.0 million and repaid $342.0 million on our Revolving Facility to fund working capital requirements. We also drew down £300.0 million, or $400.4 million, on the Term Loan to fund the DLR acquisition and repaid $36.8 million.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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