DEBT (Tables)

9 Months Ended

Sep. 30, 2022

DEBT

Schedule of debt

The Company’s debt consisted of the following as of September 30, 2022 and December 31, 2021 (in millions):

	September 30,		December 31,
	2022		2021
Term Loan Agreement due December 2023, floating rate	$	424.7	$	159.5
$300 million fixed rate Senior Notes due March 2032, stated rate of 3.000%		295.9		—
$500 million fixed rate Senior Notes due December 2030, stated rate of 1.625%		493.8		493.3
$650 million fixed rate Senior Notes due January 2027, stated rate of 3.650%		647.1		646.5
Revolving Credit Agreement (1)		(1.7)		—
EuroCCP Credit Facility		—		—
Total debt	$	1,859.8	$	1,299.3

(1) As of September 30, 2022 there was no balance drawn from the Revolving Credit Agreement (as defined below). The above represents the debt issuance costs related to the amendment of the Revolving Credit Agreement (as defined below).

Schedule of maturities of long-term debt

The future expected loan repayments related to the Term Loan Agreement and the Senior Notes as of September 30, 2022 are as follows (in millions):

Remainder of 2022	$	—
2023		425.0
2024		—
2025		—
2026		—
Thereafter		1,450.0
Principal amounts repayable		1,875.0
Debt issuance costs		(9.0)
Unamortized discounts on notes		(6.2)
Total debt outstanding	$	1,859.8

Schedule of interest expense

Interest expense, net recognized in the condensed consolidated statements of income for the three months and nine months ended September 30, 2022 and 2021 is as follows (in millions)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Components of interest expense:
Contractual interest	$	15.5	$	11.3	$	41.1	$	34.7
Amortization of debt discount and issuance costs		0.6		0.4		1.8		1.8
Interest expense	$	16.1	$	11.7	$	42.9	$	36.5
Interest income		(0.8)		—		(2.2)		(0.2)
Interest expense, net	$	15.3	$	11.7	$	40.7	$	36.3