Borrowings and Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The Company’s borrowings and long-term debt were comprised of the following as of the dates indicated (in millions):

	March 31, 2025					December 31, 2024
(in millions)	Carrying Value		Fair Value		Fair Value Level	Carrying Value		Fair Value		Fair Value Level
Revolving credit facility:
$140 million revolving credit facility expiring August 29, 2027(1)(2)	$	80.0	$	80.0	2	$	—	$	—
Total revolving credit facility	$	80.0	$	80.0		$	—	$	—
Third party borrowings:
$275 million 4.80% Senior Notes Due July 27, 2026(3)	$	274.4	$	271.4	2	$	274.3	$	271.7	2
Total third party borrowings	$	274.4	$	271.4		$	274.3	$	271.7

(1)Fair value approximates carrying value because the credit facility has variable interest rates based on selected short term market rates.

(2)On August 29, 2024, Acadian LLC’s $125 million revolving credit facility was terminated and replaced with a new $140 million revolving credit facility.

(3)The difference between the principal amounts and the carrying values of the senior notes in the table above reflects the unamortized debt issuance costs and discounts.