DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt and Capital Lease Obligations

The Company’s debt obligations consisted of the following:

(dollars in millions)	Maturity Date	Interest Rate	December 31, 2024		December 31, 2023
Term Loans (1)	2030	SOFR plus 1.75%	$	1,030.0	$	1,140.2
Senior Notes - $800 million (2)	2028	3.875%	794.0		792.3
Total debt			1,824.0		1,932.5
Less: current installments of long-term debt			10.4		11.5
Total long-term debt			$	1,813.6	$	1,921.0

(1) Term loans, net of unamortized discounts and debt issuance costs of $8.8 million and $9.8 million at December 31, 2024 and 2023, respectively. The effective interest rate was 3.0% and 3.3% at December 31, 2024 and 2023, respectively, including the effects of interest rate swaps and net investment hedges. See Note 13, 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 $6.0 million and $7.7 million at December 31, 2024 and 2023, respectively. The effective interest rate was 4.1% at both December 31, 2024 and 2023.

Schedule of Maturities of Long-term Debt

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

(dollars in millions)
2025	$	10.4
2026	10.4
2027	10.4
2028	810.4
2029	10.4
Thereafter	986.8
Total	$	1,838.8