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Long-term Debt and Short-term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Summary of Notes Payable and Long-Term Debt

Notes payable and long-term debt, listed in order of the priority of security interests in assets of the Company, consisted of the following as of December 31, 2024 and 2023:

 

(in millions)

 

December 31,
2024

 

 

December 31,
2023

 

Euro Senior Secured Term Loan A, due October 2029 (floating interest rate of 4.68% at December 31, 2024 and 5.93% at December 31, 2023)

 

$

127.9

 

 

$

218.2

 

USD Senior Secured Term Loan A (floating interest rate of 7.50% at December 31, 2023)

 

 

—

 

 

 

78.0

 

Australian Dollar Senior Secured Term Loan A (floating interest rate of 6.42% at December 31, 2023)

 

 

—

 

 

 

32.5

 

Euro Dollar Senior Secured Revolving Credit Facility, due October 2029 (floating interest rate of 4.68% at December 31, 2024)

 

 

59.1

 

 

 

—

 

U.S. Dollar Senior Secured Revolving Credit Facility, due October 2029 (floating interest rate of 6.47% at December 31, 2024 and 7.40% at December 31, 2023)

 

 

34.4

 

 

 

7.3

 

Australian Dollar Senior Secured Revolving Credit Facility, due October 2029 (floating interest rate of 6.44% at December 31, 2024 and 6.42% at December 31, 2023)

 

 

32.8

 

 

 

14.3

 

Senior Unsecured Notes, due March 2029 (fixed interest rate of 4.25%)

 

 

575.0

 

 

 

575.0

 

Other borrowings

 

 

10.5

 

 

 

0.3

 

Total debt

 

 

839.7

 

 

 

925.6

 

Less:

 

 

 

 

 

 

Current portion

 

 

51.3

 

 

 

36.7

 

Debt issuance costs, unamortized

 

 

5.1

 

 

 

6.7

 

Long-term debt, net

 

$

783.3

 

 

$

882.2

 
Schedule of Applicable Rate and Undrawn Fee Based on Company's Consolidated Leverage Ratio

The current pricing for borrowings under the Credit Agreement is as follows:

Consolidated Leverage Ratio

 

Applicable Rate on Euro/AUD/CDN Dollar Loans

 

Applicable Rate on Base Rate Loans

 

Undrawn Fee

> 4.25

 

2.25 %

 

1.25 %

 

0.375 %

> 3.5

 

2.00 %

 

1.00 %

 

0.350 %

> 2.5

 

1.75 %

 

0.75 %

 

0.300 %

≤ 2.5

 

1.50 %

 

0.50 %

 

0.250 %