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Debt and Interest Expense (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Summary of Total Long-term Debt

Total long-term debt is as follows:

 

 

 

December 31, 2023

 

 

December 31, 2022

 

(in millions)

 

 

 

 

 

 

Fixed-rate senior notes:

 

 

 

 

 

 

5.625% due 2026

 

$

800.0

 

 

$

800.0

 

5.125% due 2028

 

 

550.0

 

 

 

550.0

 

4.250% due 2030

 

 

750.0

 

 

 

750.0

 

5.500% due 2030

 

 

400.0

 

 

 

400.0

 

Total fixed-rate senior notes

 

 

2,500.0

 

 

 

2,500.0

 

Term Loan A facility

 

 

397.5

 

 

 

400.0

 

Revolving credit facility

 

 

340.0

 

 

 

18.0

 

Total Borrowings

 

 

3,237.5

 

 

 

2,918.0

 

Unamortized deferred financing costs and discounts

 

 

(26.1

)

 

 

(32.4

)

Total debt

 

 

3,211.4

 

 

 

2,885.6

 

Less: current maturities of long-term debt

 

 

12.5

 

 

 

2.5

 

Total long-term debt

 

$

3,198.9

 

 

$

2,883.1

 

 

Summary of Maturity Profile of Total Debt, Excluding Deferred Financing Costs and Discounts

As of December 31, 2023, the maturity profile of total debt, excluding deferred financing costs and discounts, is as follows:

 

(in millions)

Total

 

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

2029 and thereafter

 

Fixed-rate senior notes

$

2,500.0

 

 

$

-

 

 

$

-

 

 

$

800.0

 

 

$

-

 

 

$

550.0

 

 

$

1,150.0

 

Term Loan facility

 

397.5

 

 

 

12.5

 

 

 

22.5

 

 

 

32.5

 

 

 

330.0

 

 

 

-

 

 

 

-

 

Revolving credit facility

 

340.0

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

340.0

 

 

 

-

 

 

 

-

 

Total debt (excluding interest)

$

3,237.5

 

 

$

12.5

 

 

$

22.5

 

 

$

832.5

 

 

$

670.0

 

 

$

550.0

 

 

$

1,150.0