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Debt (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Summary of Long-Term Debt | Debt is comprised of the following indebtedness to various lenders:
(in millions) |  | March 31, 2025 |  |  | December 31, 2024 |
Second Amended and Restated Term Loan Facility, with interest at SOFR plus 3.75% as of March 31, 2025, (equal to 8.07% at March 31, 2025) due 2032, net(a) |  | $ | 506.6 |  |  | $ | — |
Previous Extended Term Loan Facility, with interest at SOFR plus 5.10% as of December 31, 2024 (equal to 9.46% at December 31, 2024) due 2026, net(b) |  |  | — |  |  |  | 402.7 |
Less: Current maturities |  |  | 3.9 |  |  |  | 4.2 |
Long-term debt, net of current maturities, debt discount and deferred financing fees |  | $ | 502.7 |  |  | $ | 398.5 |
(a) The Second Amended and Restated Term Loan Facility (as defined below), scheduled to mature on January 30, 2032, was recorded net of unamortized discount of $6.4 million and net of unamortized deferred financing fees of $2.1 million as of March 31, 2025. The fair market value of the Company’s debt under the Second Amended and Restated Term Loan Facility was $513.7 million as of March 31, 2025. (b) The Previous Extended Term Loan Facility (as defined below) as of December 31, 2024 was recorded net of unamortized discount of $5.6 million and net of unamortized deferred financing fees of $0.9 million.
Summary of Interest Expense | Interest expense reported in the condensed consolidated statements of income and comprehensive income consists of the following:
|  | Three Months Ended March 31, |
(in millions) |  | 2025 |  |  | 2024 |
Second Amended and Restated Term Loan Facility |  | $ | 10.2 |  |  | $ | — |
Previous Extended Term Loan Facility |  |  | — |  |  |  | 10.9 |
Second Amended and Restated Term Loan Facility third party fees |  |  | 6.4 |  |  |  | — |
Non-cash interest for amortization of debt discount and debt issuance costs |  |  | 0.7 |  |  |  | 1.1 |
Revolving credit facility interest and commitment fees |  |  | 0.1 |  |  |  | 0.1 |
Total interest expense |  | $ | 17.4 |  |  | $ | 12.1 |

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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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