DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt and Finance Lease Obligations

The Company’s debt obligations consisted of the following:

(dollars in millions)	Maturity Date	Interest Rate	December 31, 2023		December 31, 2022
Term Loans (1)	2030	SOFR plus 2.00%	$	1,140.2	$	1,104.5
Senior Notes - $800 million (2)	2028	3.875%	792.3		790.8
Total debt			1,932.5		1,895.3
Less: current installments of long-term debt			11.5		11.5
Total long-term debt			$	1,921.0	$	1,883.8

(1) Term loans, net of unamortized discounts and debt issuance costs of $9.8 million and $9.5 million at December 31, 2023 and 2022, respectively. The effective interest rate was 3.3% and 1.6% at December 31, 2023 and 2022, respectively, including the effects of interest rate swaps and net investment hedges. See Note 12, Financial Instruments, to the 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 $7.7 million and $9.2 million at December 31, 2023 and 2022, respectively. The effective interest rate was 4.1% at both December 31, 2023 and 2022.

Schedule of Maturities of Long-term Debt

Minimum future principal payments on long-term debt were as follows:

(dollars in millions)
2024	$	11.5
2025	11.5
2026	11.5
2027	11.5
2028	811.5
Thereafter	1,092.5
Total	$	1,950.0