FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Financial Assets and Liabilities Measured at Fair Value

A summary of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows:


		As of September 30, 2025
	Balance Sheet Location	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Assets:
Cash	Cash and cash equivalents	$	1,396.0	$	1,396.0	$	—	$	—
Interest rate swaps	Other current assets	25.7		—		25.7		—
Foreign currency exchange forwards	Other current assets	8.4		—		8.4		—
Economic hedges	Other current assets	8.5		—		8.5		—
Interest rate swaps	Other noncurrent assets	9.8		—		9.8		—
Total assets		$	1,448.4	$	1,396.0	$	52.4	$	—


		As of December 31, 2024
	Balance Sheet Location	Total		Quoted prices in active markets for identical assets (Level 1)		Other observable inputs (Level 2)		Unobservable inputs (Level 3)
Assets:
Cash	Cash and cash equivalents	$	1,227.6	$	1,227.6	$	—	$	—
Interest rate swaps	Other current assets	30.3		—		30.3		—
Economic hedges	Other current assets	9.8		—		9.8		—
Interest rate swaps	Other noncurrent assets	33.3		—		33.3		—
Total assets		$	1,301.0	$	1,227.6	$	73.4	$	—

Liabilities:


Foreign currency exchange forwards	Accrued expenses and other liabilities	$	8.8	$	—	$	8.8	$	—
Total liabilities		$	8.8	$	—	$	8.8	$	—

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 September 30, 2025 and December 31, 2024.


	September 30, 2025				December 31, 2024
	Fair Value		Par Value(1)		Fair Value		Par Value(1)
Term Loan due 2032	$	2,083.9	$	2,081.3	$	2,097.0	$	2,097.0
Senior Secured Notes due 2028	830.8		850.0		802.4		850.0

(1)See “Note 6 — Debt” for additional information.