DEBT (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule Debt and Capital Lease Obligations

The Company’s debt obligations consisted of the following:

(dollars in millions)	Maturity Date	Interest Rate	September 30, 2023		December 31, 2022
Term Loans A (1)	2026	SOFR plus 1.75%	$	149.2	$	—
Term Loans B (1)	2026	SOFR plus 2.00%	1,098.2		1,104.5
Senior Notes - $800 million (2)	2028	3.875%	791.9		790.8
Total debt			2,039.3		1,895.3
Less: current installments of long-term debt			11.5		11.5
Total long-term debt			$	2,027.8	$	1,883.8

(1) Term loans, net of unamortized discounts and debt issuance costs of $8.0 million and $9.5 million at September 30, 2023 and December 31, 2022, respectively. The effective interest rate was 2.8% and 1.6% at September 30, 2023 and December 31, 2022, respectively, including the effects of interest rate swaps and net investment hedges. See Note 7, Financial Instruments, to the unaudited Condensed Consolidated Financial Statements for further information regarding the Company's interest rate swaps and net investment hedges.

(2) Senior notes, net of unamortized debt issuance costs of $8.1 million and $9.2 million at September 30, 2023 and December 31, 2022, respectively. The effective interest rate was 4.1% at September 30, 2023 and December 31, 2022, respectively.