Debt (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt and capital lease obligations

The Company’s debt obligations consisted of the following:

(dollars in millions)	Maturity Date	Interest Rate	September 30, 2021		December 31, 2020
Term Loans (1)	2026	LIBOR plus 2.00%	$	1,115.1	$	727.5
Senior Notes - $800 million (2)	2028	3.875%	789.1		788.0
Other			6.1		—
Total debt			1,910.3		1,515.5
Less: current installments of long-term debt			12.9		7.4
Total long-term debt			$	1,897.4	$	1,508.1

(1) Term loans, net of unamortized discounts and debt issuance costs of $13.4 million and $7.6 million at September 30, 2021 and December 31, 2020, respectively. The effective interest rate was 2.1% and 2.4% at September 30, 2021 and December 31, 2020, respectively, including the effects of interest rate swaps and net investment hedges. See Note 7, Financial Instruments, for further information regarding the Company's interest rate swaps and net investment hedges.

(2) Senior notes, net of unamortized debt issuance costs of $10.9 million and $12.0 million at September 30, 2021 and December 31, 2020, respectively. The effective interest rate was 4.1% at September 30, 2021 and December 31, 2020.