Debt

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Debt

Debt. Outstanding debt balances were as follows:

	March 31, 2026		December 31, 2025
2030 Senior Secured Notes	$	950.0	$	950.0
Other	19.9		20.7
Long-term debt	$	969.9	$	970.7
Long-term deferred financing fees	(30.5)		(32.2)
Total outstanding debt	$	939.4	$	938.5

2024 Refinancing Activities - Senior Secured Notes Due 2030 (the 2030 Senior Secured Notes). On December 18, 2024, the Company issued $950.0 in aggregate principal amount 7.75% Senior Secured Notes due 2030 to qualified institutional buyers in a private placement exempt from the registration requirements of the Securities Act of 1933. The 2030 Senior Secured Notes were issued at par.

Revolving Credit Agreement. On December 18, 2024, the Company entered into a credit agreement (the Credit Agreement) for a $310.0 revolving credit facility maturing on December 18, 2029 (the Revolving Credit Facility). Borrowings under the Revolving Credit Facility bear interest at an adjusted secured overnight financing rate plus a margin of 2.75% to 3.50% per annum or an adjusted base rate plus a margin of 1.75% to 2.50% per annum, in each case based on the consolidated first lien debt ratio of the Company and its restricted subsidiaries. As of March 31, 2026, no amounts were outstanding under the Revolving Credit Facility.

Below is a summary of financing information:

Financing Facilities	Interest Rate Index and Margin	Maturity/Termination Dates	Initial Term (Years)
2030 Senior Secured Notes	7.75%	March 2030	5.25
Revolving Credit Facility(i)	SOFR + 2.75%-3.50%	December 2029	5.00

(i)SOFR with a floor of 0.0%     

The Company had various international uncommitted and non-utilized short-term lines of credit with borrowing limits aggregating to $14.5 and $8.5 as of March 31, 2026 and December 31, 2025. There were no outstanding borrowings on the short-term lines of credit as of March 31, 2026 or December 31, 2025. Short-term lines mature in less than one year and are used to support working capital.