Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Debt and Finance Lease Obligations

Debt obligations, including finance lease obligations, consisted of the following (in millions):


	December 31,
Infrastructure	2024		2023
PRIME minus 0.75% Line of Credit due 2025	$	45.0	$	100.0
3.25% Term Loan due 2026	74.6		91.4
PRIME minus 0.75% Term Loan due 2026	24.5		—
4.00% Note due 2024	—		5.0

Obligations under finance leases	0.6		2.4
Total Infrastructure	$	144.7	$	198.8

Spectrum
8.50% Note due 2025	$	19.3	$	19.3
11.45% Notes due 2025	50.4		50.4


Total Spectrum	$	69.7	$	69.7

Life Sciences
20.00% Notes due 2025	$	24.0	17.4

Total Life Sciences	$	24.0	$	17.4

Non-Operating Corporate
8.50% Senior Secured Notes due 2026	$	330.0	$	330.0
7.50% Convertible Senior Notes due 2026	48.9		51.8
SOFR plus 5.75% Line of Credit due 2025	20.0		20.0
CGIC Unsecured Note due 2026	31.0		35.1
Total Non-Operating Corporate	$	429.9	$	436.9

Total outstanding principal	$	668.3	$	722.8
Unamortized issuance discount, issuance premium, and deferred financing costs	(5.5)		(13.0)
Less: current portion of debt obligations	(162.2)		(30.5)
Debt obligations, net of current portion	$	500.6	$	679.3

Schedule of Maturities of Debt and Finance Lease Obligations

As of December 31, 2024, estimated future aggregate finance lease and debt payments, including interest, were as follows (in millions):


	Finance Leases		Debt		Total
2025(1)(2)	$	0.3	$	238.7	$	239.0
2026	0.2		508.4		508.6
2027	0.1		—		0.1



Total minimum principal and interest payments	0.6		747.1		747.7
Less: Amount representing interest (1)(2)	—		(79.4)		(79.4)
Total aggregate finance lease and debt payments	$	0.6	$	667.7	$	668.3

(1) Excludes exit fees for Spectrum and R2 Technologies.

(2) Excludes additional estimated interest payments of $0.4 million resulting from the extension subsequent to year end of the Non-Operating Corporate SOFR plus 5.75% Line of Credit from May 16, 2025, to August 1, 2025, and excludes additional estimated interest due of $2.9 million resulting from the extension subsequent to year end of the R2 Technologies 20.0% Note with Lancer Capital from December 31, 2024, to August 1, 2025.