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v3.26.1

Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2026
Borrowings [Abstract] |
Schedule of Unsecured Notes | The following are the Company’s outstanding principal amounts, carrying values and fair values of the Company’s borrowings as of March 31, 2026 and December 31, 2025.
($ in millions) |  | As of
March 31, 2026 |  | December 31, 2025
Principal Amount |  | Carrying Value(1) |  | Fair Value |  | Principal Amount |  | Carrying Value(1) |  | Fair Value
5.50% Unsecured Notes |  | $ | 80.5 |  | $ | 79.6 |  | $ | 76.5 |  | $ | 80.5 |  | $ | 79.5 |  | $ | 77.8
7.75% Unsecured Notes |  |  | 74.8 |  |  | 72.3 |  |  | 74.8 |  |  | 74.8 |  |  | 72.1 |  |  | 76.2
Total(2) |  | $ | 155.3 |  | $ | 151.9 |  | $ | 151.2 |  | $ | 155.3 |  | $ | 151.6 |  | $ | 154.0
(1) The Carrying Value represents the aggregate principal amount outstanding less the unamortized deferred issuance costs. As of March 31, 2026, the total unamortized deferred issuance costs for the 5.50% Unsecured Notes and 7.75% Unsecured Notes were approximately $0.9 million and $2.5 million, respectively. As of December 31, 2025, the total unamortized deferred issuance costs for the 5.50% Unsecured Notes and 7.75% Unsecured Notes were approximately $1.0 million, and $2.6 million, respectively. (2) Totals may not sum due to rounding.
Schedule of Components of Interest Expense | The tables below summarize the components of interest expense for the three months ended March 31, 2026 and March 31, 2025, respectively:
($ in thousands) |  | Three Months Ended March 31, 2026
Stated Interest Expense |  | Amortization of Deferred Debt Issuance Costs |  | Total
5.50% Unsecured Notes |  | $ | 1,106.9 |  | $ | 95.1 |  | $ | 1,202.0
7.75% Unsecured Notes |  |  | 1,448.3 |  |  | 141.0 |  |  | 1,589.3
Total |  | $ | 2,555.2 |  | $ | 236.1 |  | $ | 2,791.3
($ in thousands) |  | Three Months Ended March 31, 2025
Stated Interest Expense |  | Amortization of Deferred Debt Issuance Costs |  | Total(1)
6.25% Unsecured Notes |  | $ | 699.9 |  | $ | 57.5 |  | $ | 757.4
5.50% Unsecured Notes |  |  | 1,106.9 |  |  | 95.1 |  |  | 1,202.0
Total(1) |  | $ | 1,806.8 |  | $ | 152.6 |  | $ | 1,959.3
(1) Totals may not sum due to rounding.

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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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