Lines of Credit and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2025

The following tables summarize our outstanding debt obligations and their classification in the accompanying Consolidated Balance Sheets (in millions):


	As of December 31,
	2025		2024


Commercial paper:	$	226.0	$	—



Current maturities of long-term debt:

Finance lease obligations	$	18.3	$	14.9
Senior unsecured notes	—		300.0

Debt issuance costs	—		(0.4)
Total current maturities of long-term debt	$	18.3	$	314.5
Long-Term Debt:

Finance lease obligations	50.6		39.5
Term loan	300.0		—
Senior unsecured notes	800.0		800.0
Debt issuance costs	(6.5)		(6.4)
Total long-term debt	$	1,144.1	$	833.1
Total debt	$	1,388.4	$	1,147.6

Aggregate amounts of required principal payments on total debt

As of December 31, 2025, the aggregate amounts of required principal payments on total debt excluding finance lease obligations (see Note 5) were as follows (in millions):



2026	$	—
2027	600.0
2028	500.0
Thereafter	—

Summary of weighted average borrowing rate facility

Below is a summary of the weighted average interest rate for CP notes as of December 31, 2025 and 2024:


	As of December 31,
	2025		2024
Weighted average borrowing rate	3.98	%	—	%

The Term Credit Agreement contains customary covenants and events of default that are substantially similar to the existing covenants and events of default in our Credit Agreement.


	As of December 31,
	2025		2024
Weighted average borrowing rate	4.90	%	—	%

Below is a summary of the weighted average interest rate as of December 31, 2025 and 2024:


	As of December 31,
	2025		2024
Weighted average borrowing rate	—	%	—	%