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Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Composition of Long-Term Debt
Long-term debt consisted of the following:
 Maturity DateMarch 31, 2024December 31, 2023
2027 Term Loans (effective interest rate of 7.7% at March 31, 2024 and 7.4% at December 31, 2023)
August 10, 2027$721.9 $723.8 
2029 Term Loans (effective interest rate of 7.9% at March 31, 2024 and 8.4% at December 31, 2023)
November 10, 20291,748.0 1,752.3 
2027 Senior Notes (effective interest rate of 5.5% at March 31, 2024 and 5.4% at December 31, 2023)
December 1, 2027600.0 600.0 
2029 Senior Notes (effective interest rate of 3.7% at March 31, 2024 and 3.6% at December 31, 2023)
March 1, 2029800.0 800.0 
Revolver
November 10, 2027— — 
Total3,869.9 3,876.1 
Less: unamortized original issue discount and debt issuance costs(1)
(57.5)(59.7)
Less: current portion of long-term debt(17.6)(17.9)
$3,794.8 $3,798.5 
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(1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.
Estimated Fair Values of Long-Term Debt Instruments
The estimated fair values of our long-term debt instruments are based on observable market prices for these instruments, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of March 31, 2024:
2027 Term Loans$722.8 
2029 Term Loans$1,748.0 
2027 Senior Notes$587.2 
2029 Senior Notes$721.6 
Aggregate Principal Payments Due on Long-Term Debt
Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of March 31, 2024 were as follows:
Year Ending December 31:
2024 (remainder of)$18.8 
202525.0 
202625.0 
20271,318.8 
202817.5 
Thereafter2,464.8 
$3,869.9