DEBT (Tables)

3 Months Ended

Mar. 31, 2024

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	March 31, 2024		December 31, 2023
Term Loans (1)	2030	SOFR plus 2.00%	$	1,137.6	$	1,140.2
Senior Notes - $800 million (2)	2028	3.875%	792.8		792.3
Total debt			1,930.4		1,932.5
Less: current installments of long-term debt			11.5		11.5
Total long-term debt			$	1,918.9	$	1,921.0

(1) Term loans, net of unamortized discounts and debt issuance costs of $9.5 million and $9.8 million at March 31, 2024 and December 31, 2023, respectively. The effective interest rate was 3.2% and 3.3% at March 31, 2024 and December 31, 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 6, 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 $7.2 million and $7.7 million at March 31, 2024 and December 31, 2023, respectively. The effective interest rate was 4.1% at March 31, 2024 and December 31, 2023, respectively.