XML 27 R16.htm IDEA: XBRL DOCUMENT v3.25.3
Debt, Interest Income, Expense, and Other Finance Costs
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt, Interest Income, Expense, and Other Finance Costs
8. Debt, Interest Income, Expense, and Other Finance Costs
Long-Term Debt
Our outstanding debt consists of the following (in millions):
September 30, 2025December 31, 2024
Credit Facility (1)
$— $— 
Term loan (1)
436.8 455.3 
Convertible Notes (2)
342.7 340.9 
Finance leases12.9 29.9 
Other (3)
2.8 54.7 
Total debt795.4 880.8 
Less: Current maturities of long-term debt and finance leases
28.8 84.0 
Long-term debt$766.6 $796.8 
(1)The Fourth Amended and Restated Credit Agreement matures in April 2027 and provides for a term loan as well as a revolving credit facility of up to $1.5 billion (the "Credit Facility").
(2)Our 3.250% Convertible Senior Notes due 2028 (the "Convertible Notes") were issued in June 2023 and mature on July 1, 2028, unless earlier converted, redeemed or repurchased. As of September 30, 2025 and December 31, 2024, the net carrying amount of the Convertible Notes includes the aggregate principal amount of $350.0 million, net of unamortized debt issuance costs of $7.3 million and $9.1 million, respectively. As of September 30, 2025 and December 31, 2024, the fair value of the Convertible Notes was estimated to be approximately $390.1 million and $395.7 million, respectively, using the Level 2 observable input of quoted market prices in an inactive market.
(3)Includes secured borrowings for the transfer of tax receivables of $50.3 million (EUR 48.5 million) as of December 31, 2024.
Interest Income, Expense, and Other Financing Costs
The following table provides additional information about our Interest income (expense), and other financing costs, net (in millions):
For the Three Months Ended September 30,For the Nine Months Ended September 30,
2025202420252024
Interest income$2.5 $5.0 $8.8 $8.6 
Interest expense and other financing costs(28.4)(29.0)(83.2)(89.0)
Interest expense and other financing costs, net$(25.9)$(24.0)$(74.4)$(80.4)