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Debt and Credit Facility (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Summary of Senior Notes | The following table summarizes key details of our Senior Notes:
|  |  |  |  |  | Outstanding (in millions of dollars) |
|  | Issuance Date |  | Maturity |  | Effective Interest Rate |  | As of June 30, 2025 |  |  | As of December 31, 2024 |
4.625% Senior Notes |  | November 2019 |  | March 2028 |  | 4.8% |  | $ | 500.0 |  |  | $ | 500.0 |
4.50% Senior Notes |  | May 2021 |  | June 2031 |  | 4.7% |  |  | 550.0 |  |  |  | 550.0 |
Total debt |  |  |  |  |  |  |  |  | 1,050.0 |  |  |  | 1,050.0 |
Unamortized issuance costs |  |  |  |  |  |  |  |  | (7.6 | ) |  |  | (8.4 | )
Total carrying amount |  |  |  |  |  |  |  | $ | 1,042.4 |  |  | $ | 1,041.6 |
Summary of Fair Value of Outstanding Senior Notes | The following table presents the fair value of our outstanding Senior Notes, which are Level 1 liabilities (in millions of dollars):
|  |  |  |  |  | As of June 30, 2025 |  |  | As of December 31, 2024 |
4.625% Senior Notes |  |  |  |  |  | $ | 489.2 |  |  | $ | 470.1 |
4.50% Senior Notes |  |  |  |  |  | $ | 514.5 |  |  | $ | 484.8 |
Schedule of Availability and Usage of Revolving Credit Facility | The following table summarizes availability and usage of our Revolving Credit Facility as determined by a borrowing base calculated as of June 30, 2025 (in millions of dollars):
Revolving Credit Facility borrowing commitment |  | $ | 575.0 |
Borrowing base availability |  | $ | 575.0 |
Less: Outstanding borrowings under Revolving Credit Facility |  |  | (32.8 | )
Less: Outstanding letters of credit under Revolving Credit Facility |  |  | (17.6 | )
Remaining borrowing availability |  | $ | 524.6 |
Summary of Interest Expense Relating to Senior Notes and Revolving Credit Facility | The following table presents interest expense relating to our Senior Notes and Revolving Credit Facility (in millions of dollars):
|  | Quarter Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Senior Notes interest expense, including debt issuance cost amortization |  | $ | 12.4 |  |  | $ | 12.4 |  |  | $ | 24.8 |  |  | $ | 24.8 |
Revolving Credit Facility interest expense, including commitment fees and finance cost amortization |  |  | 0.7 |  |  |  | 0.6 |  |  |  | 1.3 |  |  |  | 1.2 |
Interest expense on finance lease liabilities |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 0.4 |
Interest expense capitalized as construction in progress |  |  | (0.8 | ) |  |  | (2.1 | ) |  |  | (2.8 | ) |  |  | (3.8 | )
Total interest expense |  | $ | 12.5 |  |  | $ | 11.1 |  |  | $ | 23.7 |  |  | $ | 22.6 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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