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Debt (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Summary of Long-Term Debt | Debt is comprised of the following indebtedness to various lenders:
(in millions) |  | June 30, 2025 |  |  | December 31, 2024 |
Second Amended and Restated Term Loan Facility, with interest at SOFR plus 3.75% as of June 30, 2025, (equal to 8.08% at June 30, 2025) due 2032, net(a) |  | $ | 506.8 |  |  | $ | — |
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 |  |  | 5.2 |  |  |  | 4.2 |
Long-term debt, net of current maturities, debt discount and deferred financing fees |  | $ | 501.6 |  |  | $ | 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 $6.2 million and net of unamortized deferred financing fees of $2.0 million as of June 30, 2025. The fair market value of the Company’s debt under the Second Amended and Restated Term Loan Facility was $517.3 million as of June 30, 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 (loss) income consists of the following:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in millions) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Second Amended and Restated Term Loan Facility |  | $ | 10.5 |  |  | $ | — |  |  | $ | 20.7 |  |  | $ | — |
Previous Extended Term Loan Facility |  |  | — |  |  |  | 10.8 |  |  |  | — |  |  |  | 21.7 |
Second Amended and Restated Term Loan Facility third party fees |  |  | — |  |  |  | — |  |  |  | 6.4 |  |  |  | — |
Non-cash interest for amortization of debt discount and debt issuance costs |  |  | 0.3 |  |  |  | 1.1 |  |  |  | 1.0 |  |  |  | 2.2 |
Revolving credit facility interest and commitment fees |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.2 |
Total interest expense |  | $ | 10.9 |  |  | $ | 12.0 |  |  | $ | 28.3 |  |  | $ | 24.1 |

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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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