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Long-term Debt and Short-term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
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, 2025 and 2024:

 

(in millions)

 

December 31, 2025

 

 

December 31, 2024

 

Euro Senior Secured Term Loan A, due October 2029 (floating interest rate of 4.27% at December 31, 2025 and 4.68% at December 31, 2024)

 

$

101.3

 

 

$

127.9

 

Euro Dollar Senior Secured Revolving Credit Facility, due October 2029 (floating interest rate of 4.27% at December 31, 2025 and 4.68% at December 31, 2024)

 

 

106.9

 

 

 

59.1

 

U.S. Dollar Senior Secured Revolving Credit Facility, due October 2029 (floating interest rate of 6.06% at December 31, 2025 and 6.47% at December 31, 2024)

 

 

33.6

 

 

 

34.4

 

Australian Dollar Senior Secured Revolving Credit Facility, due October 2029 (floating interest rate of 6.03% at December 31, 2025 and 6.44% at December 31, 2024)

 

 

24.1

 

 

 

32.8

 

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

 

 

575.0

 

 

 

575.0

 

Other borrowings

 

 

—

 

 

 

10.5

 

Total debt

 

 

840.9

 

 

 

839.7

 

Less:

 

 

 

 

 

 

Current portion

 

 

30.8

 

 

 

51.3

 

Debt issuance costs, unamortized

 

 

4.1

 

 

 

5.1

 

Long-term debt, net

 

$

806.0

 

 

$

783.3

 
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 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 %
Summary of Major Debt Components Including Principal Cash Payments and Interest Rates

The following table summarizes information about our major debt components as of December 31, 2025, including the principal cash payments and interest rates:

 

 

 

Stated Maturity Date

 

 

 

 

 

 

 

(in millions)

 

 

2026

 

 

 

2027

 

 

 

2028

 

 

 

2029

 

 

 

2030

 

 

Thereafter

 

 

Total

 

 

Fair Value

 

Long term debt:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rate Senior Unsecured Notes, due March 2029

 

$

—

 

 

$

—

 

 

$

—

 

 

$

575.0

 

 

$

—

 

 

$

—

 

 

$

575.0

 

 

$

533.3

 

Fixed interest rate

 

 

 

 

 

 

 

 

 

 

 

4.25

 %

 

 

 

 

 

 

 

 

 

 

 

 

Euro Senior Secured Term Loan A, due October 2029

 

$

7.2

 

 

$

10.8

 

 

$

10.8

 

 

$

72.5

 

 

$

—

 

 

$

—

 

 

$

101.3

 

 

$

101.3

 

Euro Dollar Senior Secured Revolving Credit Facility, due October 2029

 

$

—

 

 

$

—

 

 

$

—

 

 

$

106.9

 

 

$

—

 

 

$

—

 

 

$

106.9

 

 

$

106.9

 

U.S. Dollar Senior Secured Revolving Credit Facility, due October 2029

 

$

23.6

 

 

$

—

 

 

$

—

 

 

$

10.0

 

 

$

—

 

 

$

—

 

 

$

33.6

 

 

$

33.6

 

Australian Dollar Senior Secured Revolving Credit Facility, due October 2029

 

$

—

 

 

$

—

 

 

$

—

 

 

$

24.1

 

 

$

—

 

 

$

—

 

 

$

24.1

 

 

$

24.1

 

Average variable interest rate(1)

 

 

4.53

 %

 

 

4.54

 %

 

 

4.55

 %

 

 

4.55

 %

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
Rates presented are as of December 31, 2025.