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FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Recognized at Fair Value
A summary of the Company’s financial instruments recognized at fair value, and the fair value measurements used, are as follows:
As of December 31, 2023
Balance Sheet LocationTotalQuoted prices in active markets for identical assets (Level 1)Other observable inputs (Level 2)Unobservable inputs (Level 3)
Assets:
Interest rate swapsOther current assets$36.4 $— $36.4 $— 
Interest rate swapsOther noncurrent assets44.5 — 44.5 — 
Total assets$80.9 $— $80.9 $— 
Liabilities:
Private warrantsWarrant liabilities$195.0 $— $195.0 $— 
Total liabilities$195.0 $— $195.0 $— 
As of December 31, 2022
Balance Sheet LocationTotalQuoted prices in active markets for identical assets (Level 1)Other observable inputs (Level 2)Unobservable inputs (Level 3)
Assets:
Interest rate swapsOther current assets$36.9 $— $36.9 $— 
Interest rate swapsOther noncurrent assets73.3 — 73.3 — 
Total assets$110.2 $— $110.2 $— 
Liabilities:
Private warrantsWarrant liabilities$58.7 $— $58.7 $— 
Total liabilities$58.7 $— $58.7 $— 
Schedule of Fair Value Measurement Inputs and Valuation Techniques The significant assumptions which the Company used in the model are:
Warrant valuation inputsDecember 31, 2023December 31, 2022
Stock price$48.03 $13.66 
Strike price$11.50 $11.50 
Remaining life1.102.10
Volatility55.0 %56.0 %
Interest rate (1)
4.73 %4.39 %
Dividend yield (2)
0.21 %0.07 %
(1)    Interest rate determined from a constant maturity treasury yield
(2)    December 31, 2023 and 2022 dividend yield assumes $0.10 and $0.01, respectively, per share per annum.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The following table presents the estimated fair value and carrying value of long-term debt, including the current portion of long-term debt as of December 31, 2023 and 2022.
 December 31, 2023December 31, 2022
 Fair Value
Par Value (1)
Fair Value
Par Value (1)
Term Loan due 2027$2,104.9 $2,118.1 $2,062.4 $2,139.8 
Senior Secured Notes due 2028794.0 850.0 726.1 850.0 
ABL Revolving Credit Facility due 2025— — 235.0 235.0 
(1)See “Note 6 — Debt” for additional information